Last Update: 26-Nov-14 10:32 ET
- The Chicago PMI declined to 60.8 in November from 66.2 in October. The Briefing.com consensus expected the Chicago PMI to fall to 63.0.
- Even though activities softened in November, the index cannot be described as weak. Over the past four months, the Chicago PMI has exceeded 60.0. Normally, this elevated position is not stable and the index should pullback toward the mid-50s.
- Production levels decelerated as the related index fell to 66.7 in November from 68.4 in October. Order levels weakened as the New Orders Index declined to 61.9 in November from 73.6 in October and unfilled orders dropped to 55.5 from 56.4. Those levels still support strong production growth.
- The Employment Index fell to 54.4 in November from 60.2 in October.
- 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.