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New Orders Crash

The Chicago Business Barometer, also known as the Chicago PMI, dropped further to 36.9 in December 2024, compared to November’s 40.2 and missing market forecasts of 42.5. The latest data indicated that Chicago’s economic activity contracted for the 13th consecutive month, recording its steepest decline since May. New orders fell 13.5 points to the second lowest since May 2020, with more than half of respondents reporting fewer new orders for the first time since June 2020.

Chart and text above from Trading Economics.

Unlike the regular ISM, I do not have access to this data feed.

@Stuart Loren commented “While the Chicago region measured in this data point extends beyond city limits, this ongoing contraction in the Chicago PMI is not exactly the best reflection of the Mayor Johnson and Friends approach to governance.”

“Chicago has a lot to offer. But it’s hard for that to come through when we are plagued by political idiocy and poor fiscal management.”

The index has been in contraction for 27 of the last 28 month, with over half of respondents reporting a decline in new order.

Chicago News

December 23, 2024: The Corruption and Incompetence of Chicago’s Mayor Has No Bounds

Chicago mayor Brandon Johnson stepped to new lows when his hand-picked board fired Chicago Public Schools (CPS) CEO Pedro Martinez without cause.

December 26, 2024: Court Blocks Chicago Mayor from Firing Chicago Public Schools CEO

In a temporary victory for common sense, a Cook County Judge acted in the best interest of the City.

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