posted on 29 April 2016
April 2016 Chicago Purchasing Managers Barometer New Orders and Backlogs Fall to the Lowest Since December 2015
The Chicago Business Barometer which recently has spent more time in contraction than expansion barely remained in expansion. This survey came in below expectations.
From Bloomberg, the market expected the index between 52.0 to 54.2 (consensus 53.4) versus the actual at 50.4. 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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