Photo: vxla via Flickr
UPDATE:Chicago PMI is out, and the number is 56.2. That’s well below the 60.0 reading that was expected. And that’s well down from 62.2 last month.
From the Chicago ISM…
April 2012: The Chicago Purchasing Managers reported the April Chicago Business Barometer decreased for a second consecutive month. After five months above 60, the Chicago Business Barometer fell to 56.2, a 29 month low. The index has remained in expansion since October 2009.
• PRODUCTION lowest level since September 2009;
• PRICES PAID down from March’s 7 month high;
• INVENTORIES down in 6 of last 7 months;
• SUPPLIER DELIVERIES lowest since September 2011.
• PRODUCTION MATERIAL lowest lead times since June 2010.
More to come…
ORIGINAL POST: The next big economic data of the day: April Chicago PMI comes out at 9:45.
Consensus is for the headline number to fall from 62.2 to 60.0.
This is another one of those regional datapoints that should help us get a better picture of the economy in April.
We’ll have the number here LIVE.