posted on 31 December 2015
December 2015 Chicago Purchasing Managers Barometer Contracted At Fastest Pace Since July 2009 Led by Deterioration in Order Backlogs
The Chicago Business Barometer significantly declined again and remains in contraction. This survey came in well under expectations.
From Bloomberg, the market expected the index between 48.0 to 53.0 (consensus 50.0) versus the actual at 42.9. A number below 50 indicates contraction. Chief Economist of MNI Indicators Philip Uglow said,
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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