The Chicago Business Barometer rose 4.3 points to 36.6 which was under expectations.
Analyst Opinion of Chicago PMI
The Fed manufacturing surveys were mixed this month because of the coronavirus impacts.
Expectations this month from Econoday were 35.0 to 50.2 (consensus 42.5). A number below 50 indicates contraction.
The Chicago Business BarometerTM, produced with MNI, rose to 36.6 in June with business activity picking up as Covid-19 related shutdowns eased somewhat. Across Q2, business sentiment slipped 11.8 points to 34.8, hitting the lowest level since Q1 2009. Among the main five indicators, Production and New Orders saw the largest monthly gains, while Supplier Deliveries and Employment faltered.
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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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