Econintersect: The March 2012 Chicago Purchasing Managers index (Chicago PMI) declined slightly after last months strong showing, but this index has shown continued expansion for the past 30 months.
This survey is of interest to those who watch Purchasing Manager’s data – as this survey is used as a expectations yardstick for the national ISM manufacturing release next week.
BUSINESS ACTIVITY:
- PRICES highest since August 2011;
- EMPLOYMENT expansion slowed;
- INVENTORIES largest gain since December 2010;
- NEW ORDERS retraced last month’s gains.
BUYING POLICY:
- PRODUCTION MATERIAL lead times back to 10+ year highs
This month’s seasonally adjusted level of 62.2 (February level was 64.0) remains in territory normally associated with economic expansion. The market was expecting 62.0 to 63.0.
This is a survey, and not hard data.
source: Chicago PMI
