Chicago PMI Misses, Drops To 5-Month Lows

Only 1 of MNI's Chicago Barometer components rose in December as the headline index tumbled from October's multi-year highs at 66.2 to today's December print of 58.3 – lowest in 5 months and missing expectations for the 2nd month in a row. While new orders, prices paid, and production all fell, (the sole improvment) rose.

 

Breakdown via MNI

  • Prices Paid fell compared to last month
  • New Orders fell compared to last month
  • Employment rose compared to last month
  • Inventory fell compared to last month 
  • Supplier Deliveries fell compared to last month
  • Production fell compared to last month
  • Order Backlogs fell compared to last month
  • So lower prices, less orders, less production… let's hire more people?

     

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