Last Update: 31-Aug-15 10:18 ET
- The Chicago PMI declined to 54.4 in August from 54.7 in July. The Briefing.com Consensus expected the Chicago PMI to remain at 54.7.
- Prior to July, the Chicago PMI was mired in a two-month contraction.
- Production levels remained robust as the related index declined to 59.0 from 61.8 in July. Orders growth softened, falling from 58.5 in July to 56.7 in August, but remained well above the expansion/contraction threshold. The ongoing contraction in backorders moved into its seventh consecutive month as the related index fell to 46.2 in August from 47.9 in July.
- The Employment Index increased to 49.1 in August from 46.2 in July. That was the fourth consecutive contraction.
- The Chicago PMI has little overall economic value, and is only watched by the financial markets because it is usually released one day in advance of the similar national ISM manufacturing survey. A significant move in this regional survey will therefore sometimes be seen as having predictive value for the ISM index.