May 2020 Chicago Purchasing Managers Barometer Hit Lowest Level Since 1982
The Chicago Business Barometer declined 3.1 points to 32.3. 
Analyst Opinion of Chicago PMI
The Fed manufacturing surveys were in contraction this month because of the coronavirus impacts.
Expectations this month from Econoday were 40.0 to 41.4 (consensus 40.0). A number below 50 indicates contraction.
The Chicago Business BarometerTM, produced with MNI, fell to 32.3 in May, hitting the lowest level since March 1982, as business confidence cooled further amid the Covid-19 crisis. Among the main five indicators, Order Backlogs and Supplier Deliveries saw the largest declines, while Employment edged marginally higher. Demand tumbled further into contraction in May after seeing the largest fall on record in April. New Orders dropped by 2.3 points to the lowest since July 1980. Similarly, Production ticked down 6.3% in May after falling sharply in the previous month. The index remained at a 40-year low as firms reported pandemicinduced temporary shutdowns.
The Chicago ISM is important as it is a window into the national ISM reports which will be issued shortly. When you compare the graph below of the ISM Manufacturing Index against the Chicago PMI (graph above) - there is a general correlation in trends, but not necessarily correlation in values.
Source and read the full report: Chicago PMI
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