Chicago PMI Edges Down in June

The Chicago Business Barometer fell to a four-month low in June with a PMI reading of 66.1, according to MNI Indicators. The June PMI slipped 9.1 points from May. Through Q2, however, the index jumped by 7.9 points to 71.1, its highest quarterly reading since Q4 1973.

Demand was not as robust as anticipated. Supplier deliveries were the sole indicator to post a gain in June, a 4.2-point increase month on month. Among the main five indicators, order backlogs saw the largest decline, falling by 14.1 points.

Chicago Business Barometer

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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