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But, he added, he had an even better business barometer, one that was foolproof.
None of the five components that make up the Chicagoland business barometer were at or above 50 percent in November.
Confidence among the owners of smaller companies has also collapsed, according to the monthly Lloyds Bank business barometer.
Its business barometer rose to a seasonally adjusted 53 in May from 52 in April, with new orders and employment rising.
Although its overall business barometer posted a small gain for February, the component showing prices paid by corporate buyers fell to 56.7 from 59.3 in January.
The Chicago Purchasing Management index, used as a business barometer of the Middle West, tumbled to 46.8 percent in October from a strong 50.3 percent the previous month.
Peterborough leads the UK's business population growth, with a 3.78% increase between April and September 2006, according to Royal Mail's Business Barometer.
One of CFIB's most prominent reports is the Business Barometer , a monthly research report detailing the economic expectations of Canada's small businesses.
In another indicator of resurgent economic activity, Chicago purchasing managers said their Chicagoland Business Barometer posted a solid rise in October with big gains in production and orders.
Various business barometers from housing construction to unemployment have shown that in November at least the country had not suffered from the record 508-point drop in stock prices that occurred on Oct. 19.
Manufacturing Growth Slows The National Association of Purchasing Management-Chicago said that its business barometer declined to 61.2 this month, from 65.2 in November, a sign of slower growth in manufacturing.
Separately, purchasing managers in the Chicago area said their Chicagoland Business Barometer fell in May to a seasonally adjusted 53.5 from 57.6 in April as new orders and backlogs of unfilled orders shrank.
The latest Caterer and Hotelkeeper/American Express Business Barometer Survey, covering the first quarter of 1991, found that high interest rates, inflation and falling consumer demand were the key worries facing hotels and restaurants.
The Chicagoland Business barometer, a measure of economic conditions in the industrial center of the Midwest, has fallen to its lowest level in eight years, the Association of Purchasing Management of Chicago said on Friday.
Babson authored more than forty books on economic and social problems, the most widely read being Business Barometers (eight editions) and Business Barometers for Profits, Security, Income (ten editions).