Research >> Economics
Chicago PMI Stumbled
The Chicago Purchasing Managers reported the CHICAGO BUSINESS BAROMETER stumbled enroute to establishing the possible end of the 2007-2009 recession.
PRICES PAID continued to firm;
NEW ORDERS, PRODUCTION, and ORDER BACKLOGS suffered reverses;
EMPLOYMENT index continued to retreat at the August rate;
CAPITAL EQUIPMENT lead-times lengthened for the second month.
The September CHICAGO BUSINESS BAROMETER™ stumbled in September indicating a slightly contracting economy after having reached equilibrium in August. Such a stumble is not unusual during and after a recession. In fact, the Business Barometer stumbled in the month after the 2001 recession ended. Furthermore, the Business Barometer stumbled the first month after reaching 50, after the end of the extended November 1973 through March 1975 recession.
Posted: September 30, 2009 Wednesday 10:00 AM