Last Update: 29-May-15 10:24 ET
- The Chicago PMI declined to 46.2 in May from 52.3 in April. The Briefing.com Consensus expected the PMI to increase to 53.0.
- That was the third time the Chicago PMI has fallen below 50, the expansion/contraction threshold, in the last four months.
- With the exception of the Prices Paid Index (51.2 from 43.1), all of the sub-indexes declined and also contracted in May.
- The Production Index dropped to 45.8 in May from 52.7 in April. That move came as both the new orders (47.5 from 55.1) and unfilled orders (47.3 from 48.5) indices softened considerably.
- The Employment Index fell to 48.0 in May from 54.0 in April. That was the lowest reading since reaching 47.9 in April 2013.
- 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.