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Monday, September 30, 2019

Chicago PMI "Drifts to 47.1 in September", Lowest Quarter since 2009

by Calculated Risk on 9/30/2019 12:41:00 PM

From the Chicago PMI: Chicago Business Barometer™ – Drifts to 47.1 in September

The Chicago Business BarometerTM, produced with MNI, fell 3.3 points to 47.1 in September, following August’s rebound to 50.4.

Business confidence dropped below the 50-mark to 47.3 in Q3, leaving the index at the lowest level on a quarterly basis since Q3 2009. The index fell 4.9 points compared to the previous quarter.
Labor demand improved slightly to 45.6 in September, but the quarterly average fell to 44.1, recording the weakest quarter since Q4 2009. br /> emphasis added
CR Note: This was below the consensus forecast, and is another weak reading.