The Chicago Business Barometer declined from 75.2 to 66.1
Analyst Opinion of Chicago PMI
The Fed manufacturing surveys were all in expansion this month were generally about the same as the previous month.
Expectations this month from Econoday were 68.5 to 76.0 (consensus 72.0). A number below 50 indicates contraction.
The Chicago Business BarometerTM, produced with MNI, fell to 66.1 in June, a four-month low. Through Q2, the index surged 7.9 points to 71.1, its highest quarterly reading since Q4 1973. Among the main five indicators, Order Backlogs saw the largest decline, with Supplier Deliveries posting the only gain. New Orders languished markedly, dropping to a threemonth low in June. However, the index jumped to 73.0 over Q2, its highest reading since Q3 1983. Production eased slightly in Q2 to 67.9, while the monthly index slipped 10.6 points. Some firms reported lower production levels due to material shortages, while others noted that the shortages created new business. Order Backlogs slowed by 14.1 points. Across Q2, the indicator saw the largest increase, rising from 60.0 in Q1 to 73.5.
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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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