Chicago PMI Slips in November

The latest Chicago Purchasing Manager's Index, or the Chicago Business Barometer, fell to 61.8 in November from 68.4 in October, which is still in expansion territory. Values above 50.0 indicate expanding manufacturing activity.

The latest Chicago Purchasing Manager's Index, or the Chicago Business Barometer, rose to 68.4 in October from 64.7 in September, which is still in expansion territory. Values above 50.0 indicate expanding manufacturing activity.

Here is an excerpt from the press release:

The Chicago Business BarometerTM, produced with MNI, fell to 61.8 in November, the lowest reading since February, driven by a slow-down in new orders.

Among the five main indicators, Inventories saw the largest increase, followed by Production. All other indicators dropped compared to October, with Order Backlogs seeing the largest decline. [Source]

Let's take a look at the Chicago PMI since its inception.

Here's a closer look at the indicator since 2000.

Let's compare the Chicago PMI with the more popular national ISM Manufacturing Index. Both indices clearly follow one another with the ISM falling slightly lower on average. Note the ISM Manufacturing indicator is through the previous month.