The numbers: The Chicago Business Barometer fell in February for the first time in three months to a one-and-a-half-year low of 56.3, as companies struggled with a shortage of labor and materials and the tail end of the omicron wave.
One bit of good news: The prices that companies paid for supplies slid to an 11-month low. Prices — and inflation — are still high, but some businesses said they were leveling off.
Leading indicator, take note.
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