Chicago Business Barometer™ & Research

Chicago Business Barometer^™ & Research

Monthly Survey - Chicago Business Barometer^™

The ISM Chicago Business Survey, is a regional view of the national economy; is a time-tested, market-moving report. The Chicago Report^™ is available to subscribers on the last working day each month. The Chicago Business Barometer^™ summarizes current Business Activity. The Barometer is considered to be a leading indicator of the U.S.A. economy.

For more than seven decades, the Chicago Business Barometer^™ has been providing leading insight on the U.S. economy. The Chicago Business Barometer^™ is delivered to subscribers via the MNI Chicago Report^™, a monthly report published by MNI Indicators that presents valuable information on the U.S. economic activity and a fresh look at current U.S. business conditions. The report consists of seven Business Activity indicators and three Buying Policy indicators that represent activity and preformance levels compared to the prior month.

Purchasing and Supply Management professionals in the Chicago area, primarily members of ISM Chicago, are polled to assess business conditions for their respective companies every month.

For more information about the Chicago Business Barometer^™ and MNI Indicators products, please contact martindanielb@yahoo.com.

Periodically, ISM Chicago may invite our members and community to participate in additional research.

August - Chicago Business Barometer^™

The Chicago Business Barometer^™ progressed 0.8 points to 46.1 in August. The marginal move means it remains in contractionary territory for the ninth consecutive month, although is comfortably above the year-to-date average of 42.9.

The marginal rise was due to three of the five subcomponents improving. The marginal upward movement was driven by New Orders, followed by Production and Supplier Deliveries. Whilst small reductions in Order Backlogs and Employment capped the upside move.

August special question asked: "How are the upcoming November Elections affecting your hiring plans?" Majority responded No Impact 50.0%, Minimal Impact 30.0%, Hiring more permanent workers 3.3%, with Hiring less workers at 16.7%.

Released August 30, 2024.

When You Reach an Impasse With a Young Teammate

In today's fragile workforce, leaders must take a relational approach to correction.

When a younger staff member makes a wrong decision because of preceived inexperience, Tim Elmore, CEO of Growing Leaders, provides "A LEG" to stand on when talking with them by first asking questions to get at the root of their reasoning, making them feel heard by listening intently, empathizing to signal that you understand and only then guiding them from your personal power instead of your position. "Your influence now comes from a relationship, not a title," Elmore notes.

Full Story: Inc. (8/30)

Building the 'Procurement Intelligence Team'

Data never sleeps, and your procurement operation shouldn't either.

Tealbook founder Stephany LaPierre explains why a 'data brain' is needed to collect and analyze the necessary data for efficient procurement operations.

Full Story: SCMR (August)

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