The Chicago Business Barometer insignificantly declined from 51.9 to 51.2.
Analyst Opinion of Chicago PMI
The Fed manufacturing surveys were all in expansion this month
Expectations this month from Econoday were 47.5 to 54.5 (consensus 51.8). A number below 50 indicates contraction.
The Chicago Business BarometerTM, produced with MNI, slipped to 51.2 in August. This was the second straight reading above the 50-mark after having sat below it for a full year, as firms stated that business activity picked up further in August. Among the five main indicators, Order Backlogs was the only category to show a monthly decline, while Supplier Deliveries recorded the largest gain.
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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.
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source and read the full report: Chicago PMI
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