Chicago PMI Expands For 27th Month
The Chicago Purchasing Managers Business Barometer for December marked the 27th month of expansion at an index of62.5, just 0.1 below November’s level. Production showed slightly slower growth than the previous month at 66.2 while new orders were soft for the month of December, down 2.2 points from November’s unusually high level. Order backlogs continue to grow for the 3rd month, up to 57.9, the highest since April of this year.
Inventories eased down slightly down to 52.2 from November’s 53.6. Employment showed slight growth with a 1.7 point gain while supplier deliveries showed minor gains as well. Price paid rebounded after November’s decline, up to 65.7 for December while the buying policy for production material was the lowest since February 2010. M.R.O. supplies are down under 10 days while lead times for capital equipment fell to an adjusted 113.7 average days.
Source: ISM Chicago