Chicago Business Barometer rises above expectations in July 2026 as new orders hit highest since January 2022
The gauge climbed to 57.6 from 56.7, marking a third straight month in expansion as stronger demand offset weaker supplier deliveries, softer backlogs and continued labor-market weakness.
The Chicago Business Barometer rose to 57.6 in July 2026 from 56.7 in June, beating expectations of 56.0 and staying in expansionary territory for a third consecutive month. The gain was driven by new orders, which reached their highest level since January 2022, pointing to firmer demand across the region's manufacturing base. Other components were more mixed. Supplier deliveries weakened, order backlogs slipped back into contraction after two months above the neutral 50 level, and employment remained in contraction for a fifth straight month, falling to its lowest level since March. Production also eased, though it stayed in expansion. Prices paid was little changed as respondents continued to cite geopolitical tensions and elevated energy costs, even as broader price stability showed signs of improvement.
- Chicago Business Barometer: A monthly survey-based gauge of business activity in the Chicago region, often used as a proxy for U.S. manufacturing momentum.
- new orders: A measure of incoming demand for goods, often watched as an early signal of future production activity.
- prices paid: A survey component tracking the input costs businesses report paying for materials and other expenses.