posted on 31 August 2016
The Chicago Business Barometer which recently has spent more time in contraction than expansion again declined but remans in expansion. This survey came in below expectations.
From Bloomberg, the market expected the index between 53.0 to 56.3 (consensus 55.2) versus the actual at 51.5. A number below 50 indicates contraction. Lorena Castellanos, senior economist at MNI Indicators stated,
z chicago pmi.png
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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