June 2012 Chicago PMI Rose Marginally

June 29th, 2012
in econ_news

Econintersect: The June 2012 Chicago Purchasing Managers index (Chicago PMI) rose slightly just above last months 33 month low. The Chicago ISM stated:

The Chicago Purchasing Managers reported the June Chicago Business Barometer stabilized just above May's 33 month low.  The short-term trend of the Chicago Business Barometer fell for the third month.  The three-month moving average of each Business Activity index, except Employment, fell in June.

The market expected a survey index between 52.0 and 53.0 (versus the 52.9 reported).

Follow up:

This survey is of interest to those who watch Purchasing Manager's data - as this survey is used as a expectations yardstick for the national ISM manufacturing release next week.

BUSINESS ACTIVITY:
•    PRODUCTION rebounded;
•    NEW ORDERS and ORDER BACKLOGS lowest since September 2009;
•    PRICES PAID were at a 30 month low.

BUYING POLICY:
•    M.R.O. SUPPLIES lead times plummeted.

This month's seasonally adjusted level of 52.9 (May level was 52.7) remains in territory normally associated with economic expansion. 

This is a survey, and not hard data.

[

Steven Hansen

source: Chicago PMI

 









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