June 29th, 2012
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).
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.
• PRODUCTION rebounded;
• NEW ORDERS and ORDER BACKLOGS lowest since September 2009;
• PRICES PAID were at a 30 month low.
• 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.
source: Chicago PMI