Recent Updates

  • Canada: Wholesale Trade (Nov)
  • US: National Financial Conditions Index (Dec)
  • Ireland: WPI (Dec)
  • Spain: Cement Statistics (Jun), Industry Turnover Indexes, New Orders, Services Sector Activity Index (Nov), Government Debt (Dec)
  • Mexico: Employment (Dec)
  • Turkey: Non-Domestic PPI, External Debt by Lender, Domestic Debt by Holder, Domestic Debt by Instrument, Govt Finance (Dec);
  • more updates...

Economy in Brief

Chicago Purchasing Managers Index Backpedals
by Tom Moeller  June 30, 2014

Chicago purchasing managers indicated that their June index of General Business Conditions fell to 62.6 this month after an unrevised 65.5 in May. The figure disappointed expectations for 63.0 in the Action Economics Forecast Survey. Haver Analytics constructs an ISM-Adjusted Index, comparable to the overall index to be released tomorrow. The figure increased to 60.7, the highest level since November. During the last ten years there has been a 66% correlation between the adjusted Chicago Purchasing Managers index and real GDP growth.

Movement in the component series was mixed. To the upside were production (70.1), employment (58.4, a five-month high), supplier deliveries (52.8) and inventories (57.0, an eight month high). Falling were new (65.1) and unfilled (55.4) orders.

The index of prices paid slipped to 65.9 but remained at nearly the highest level since November 2012. Twenty eight percent (NSA) of respondents reported paying higher prices while none 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 using 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) Jun May Apr Jun'13 2013 2012 2011
ISM-Adjusted General Business Conditions 60.7 58.9 59.4 51.3 54.3 54.8 61.3
General Business Conditions 62.6 65.5 63.0 52.0 56.1 54.6 62.7
  Production 70.1 64.4 70.5 56.7 58.3 57.6 66.6
  New Orders 65.1 70.2 68.7 55.3 59.3 55.1 65.3
  Employment 58.4 54.6 57.8 56.6 55.5 55.3 59.5
  Order Backlogs 55.4 61.4 54.9 40.8 49.0 48.0 55.5
  Supplier Deliveries 52.8 51.7 50.6 46.6 52.5 54.9 60.0
  Inventories 57.0 53.5 49.5 41.5 45.7 51.4 55.2
  Prices Paid 65.9 66.8 55.2 61.4 59.9 62.2 72.4
close
large image