The Chicago Business Barometer rose from 36.6 to 51.9.
Analyst Opinion of Chicago PMI
The Fed manufacturing surveys were all in expansion this month
Expectations this month from Econoday were 41.0 to 43.0 (consensus 42.8). A number below 50 indicates contraction.
The Chicago Business BarometerTM, produced with MNI, rose to 51.9 in July, the highest level since May 2019. Business activity recovered following twelve consecutive months of readings below 50. Nevertheless, companies noted continued uncertainty amid the ongoing Covid-19 crisis. Among the main five main indicators, New Orders and Production saw the largest monthly gains, while Supplier Deliveries eased.
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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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