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.
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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.