Photo: Niklas Hellerstedt
It’s a miss.
The Chicago Purchasing Managers survey has fallen below 50 for the first time since September 2009.
The 49.7 reading is well below last week’s 53.0, and well below 52.8.
September 2012: The Chicago Purchasing Managers reported the Chicago Business Barometer fell to 49.7, its lowest level in three years. Among the Business Activity measures, five of seven posted declines as New Orders fell below 50 and Order Backlogs contracted for the fourth of the past five months. Prices Paid showed the biggest gain in nearly two years and Supplier Deliveries moved back above 50. BUSINESS ACTIVITY: • EMPLOYMENT: 2 1/2 year low; • NEW ORDERS, ORDER BACKLOGS, and SUPPLIER DELIVERIES: 3 month moving averages lowest since mid 2009; • PRICES PAID: third consecutive monthly gain; BUYING POLICY: • CAPITAL EQUIPMENT: 17 month low.
More to come
Next big datapoint: Chicago PMI.
Analysts expect a reading of 52.8 vs. last month’s 53.0.
While these regional indices have mostly been weak, there’s actually a big winning streak happening, stretching from the Philly Fed to this morning’s NAPM-Milwaukee.
We’ll have the number here LIVE at 9:45.
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