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posted on 31 March 2015

March 2015 Chicago Purchasing Managers Barometer Remains in Contraction

Econintersect: The Chicago Business Barometer remains in contraction in March - although "improving" marginally. The authors of this index remain surprised.

The market expected the index between 49.5 and 53.5 (consensus 50.2) versus the actual at 46.3. A number below 50 indicates contraction. From the authors of the index:

While part of this decline may be attributable to the cold weather snap and strike action at West Coast ports, the continued weakness in March points to a wider slowdown in business conditions.

The Chicago ISM is important as it is a window into the national ISM reports which will be issued shortly. When you compare the graph below of the ISM Manufacturing Index against the Chicago PMI (graph above) - there is a general correlation in trends, but not necessarily correlation in values.

source and read the full report: Chicago PMI



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