The Chicago Purchasing Managers reported the CHICAGO BUSINESS BAROMETER posted a small gain in August but remained steady for the last four months. Among the Business Activity measures, declines into contraction for both Order Backlogs and Supplier Deliveries offset minor gains in Production, New Orders, and Employment in August.
• EMPLOYMENT recovered more than half of last month’s slowing;
• PRICES PAID slight gain;
• ORDER BACKLOGS lowest since September 2009;
• SUPPLIER DELIVERIES lowest since July 2009.
• PRODUCTION MATERIAL and M.R.O. SUPPLIES lead times decreased.
The Chicago ISM is important as it is a window into the national ISM reports which will be issued shortly.
source and read the full report: Chicago PMI