The number: 67.6 is the number, basically in line with expectations of 68, and down from 70 last month.
Given some of the bad manufacturing surveys from regional feds lately, this has to be a little bit of a relief.
Prices paid dropped from 83.4 to 81.8.
The new orders component fell from 74.5 to 66.3
Remember, anything above 50 is “expansion” of that nedicator.
Background: We’ve had a series of unimpressive manufacturing surveys lately. Now comes the ISM’s Chicago PMI. Analysts are looking for a 68 reading down from 70 last month.