MNI's Chicago Business Barometer Report came in dramatically worse than expected for November, printing 36.3 (the lowest since May 2024), well below expectations of 43.6 and the prior print of 43.8. Under the hood, it was all ugly: • Prices paid rose at a faster pace; signaling expansion • New orders fell at a faster pace; signaling contraction • Employment fell at a faster pace; signaling contraction • Inventories fell at a faster pace; signaling contraction • Supplier deliveries rose at a faster pace; signaling expansion • Production fell at a faster pace; signaling contraction • Order backlogs fell at a faster ... (full story)