- US: Advance Trade & Inventories (Feb)
- Sweden: Retail Trade, PPI, International Trade (Feb); Iceland: CPI (Mar)
- Turkey: International Reserves (Feb); Mauritius: Wage Rate Index, LFS (Q4); Saudi Arabia: Non-Oil Foreign Trade (Jan); Palestine: BOP (Q4); UAE: Fuel Prices (Apr); Israel: Construction Starts & Completions (Q4); South Africa: Construction Survey (Q1); Tanzania: Trade (Q4)
- Brazil: PPI (Feb)
- more updates...
Economy in Brief
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
by Tom Moeller October 31, 2016
The Chicago Purchasing Managers Business Barometer Index fell to 50.6 during October following an unrevised increase to 54.2 during September. The latest was the lowest level since May. The figure compared to expectations for 53.8 in the Action Economics Forecast Survey.
Haver Analytics constructs an ISM-Adjusted Index using the Chicago numbers, comparable to the overall ISM index to be released tomorrow. Our figure declined to 51.0. During the last ten years, there has been a 61% correlation between the adjusted Chicago Purchasing Managers index and real GDP growth.
The new orders series eased to 52.5 from 54.1, leaving it at the lowest point since May. The production series dropped sharply to 54.4, the weakest level in three months. Inventories & supplier deliveries also fell, but order backlogs improved.
The employment figure also increased to 51.1, and was above break-even for the third month in the last four. During the last ten years, there has been an 81% correlation between the employment figure and the m/m change in factory sector employment.
The prices paid reading rose to 59.5. The figure compared to a February low of 41.1 and was the highest since November 2014. An increased 21% (NSA) of respondents reported paying higher prices while a steady 8% paid less.
The MNI Chicago Report is produced by MNI/Deutsche Borse Group in partnership with ISM-Chicago. The survey covers a sample of over 200 purchasing professionals in the Chicago area with a monthly response rate of about 50%. The ISM-Adjusted headline index is calculated by Haver Analytics using these data to construct a figure with the ISM methodology. The figures can be found in Haver's SURVEYS database. The Consensus expectations figure is available in AS1REPNA.
|Chicago Purchasing Managers Index (%, SA)||Oct||Sep||Aug||Oct '15||2015||2014||2013|
|General Business Barometer||50.6||54.2||51.5||52.6||50.3||60.7||56.0|
|ISM-Adjusted General Business Barometer||51.0||53.7||52.5||54.5||51.6||59.3||54.2|