Last Update: 30-Jun-14 10:11 ET
- Manufacturing activity decelerated in the Chicago region as the Chicago PMI fell to 62.6 in June from 65.5 in May. The Briefing.com consensus expected the index to fall to 61.0.
- The Chicago PMI has exceeded 60.0 for three consecutive months.
- Production strengthened in June as the related index increased to 70.1 from 64.4 in May. The gains, however, were predicated on strong levels of backlogs. New orders growth faded in June as the related index fell to 65.1 from 70.2 in May. Backlog levels dropped to 55.4 from 61.4.
- The Employment Index increased to 58.4 from 54.6.
- 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.