The Chicago Business Barometer rose 6.0 points to 50.4 in August, up from 44.4 in July. The index had been in contractionary territory for two months before this month’s gain.
Analyst Opinion of Chicago PMI
The Fed manufacturing surveys were little changed this month showing little growth – and the Chicago Fed is consistent with the other surveys.
Expectations this month from Econoday were 44.6 to 49.0 (consensus 47.5). A number below 50 indicates contraction.
Only two of the Business Activity components saw a monthly decline, as Supplier Deliveries saw a sharp fall, dropping to 50.3 from July’s 55.6. The survey still suggests a softer overall tone in business activity despite the August pick-up in sentiment, as the three-month average fell again, dipping to 48.2.
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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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