by Bill McBride on 9/30/2009 09:54:00 AM
Wednesday, September 30, 2009
From MarketWatch: Business activity declines in Chicago area
The Chicago purchasing managers index fell to 46.1% in September from 50.0% in August ... The new orders index backtracked to 46.3% from 52.5% in August. The employment index was essentially unchanged at 38.8% ...Readings below 50% indicate contraction.
This index is for both manufacturing and service activity in the Chicago region. In general the Chicago area is considered representative of the mix of manufacturing and non-manufacturing business activity in the nation, so a decline in the Chicago PMI is significant.
The national ISM manufacturing index will be released tomorrow, and the ISM non-manufacturing index on Monday.
Posted by Bill McBride on 9/30/2009 09:54:00 AM