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Economy in Brief

Chicago Purchasing Managers Survey Ticked Up
by Tom Moeller September 28, 2007

The Chicago Purchasing Manager's Association reported that its August business barometer ticked up to 53.8 after the 6.8 point collapse during July. The figure remained well below the highs of earlier this year.

During the last ten years there has been a 69% correlation between the index and the three-month change in US factory sector industrial production.

New orders recovered about half of the sharp July drop but the employment measure skidded hard. The production index dropped 3.3 points to its lowest level since May and order backlogs remained quite low.

The prices paid index fell just slightly after solid gains though most of this year.During the last ten years there has been an 89% correlation between the level of the prices diffusion index and the three month change in the core PPI for intermediate goods.

Chicago PMI  August   July Aug. '06 2006 2005 2004
Chicago PMI Business Barometer Index 53.8 53.4 58.4 56.8 60.4 62.8
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