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Chicago Purchasing Managers Index Softened at 60.2
The Chicago Purchasing Managers reported the CHICAGO BUSINESS BAROMETER softened. Yet, the barometer marked the 28th month of expansion and its 3-month moving average rose to the highest level since June 2011. Similarly, Production and New Orders declined, but their 3-month moving averages rose to the highest since early Q2. However, key aspects of the report pointed towards a weakening economy.
BUSINESS ACTIVITY:
EMPLOYMENT expansion lowest since August 2011;
ORDER BACKLOGS sunk into contraction after largest drop since November 2008;
SUPPLIER DELIVERIES highest since June 2011.
BUYING POLICY:
PRODUCTION MATERIAL lead time at a multi decade high.
Posted: January 31, 2012 Tuesday 10:00 AM