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Chicago PMI down to 50.6

Monday, Oct 31 2016
Chicago PMI down to 50.6

The MNI Chicago Business Barometer fell 3.6 points to a five-month low of 50.6 in October from 54.2 in September, suggesting economic activity in the US lost some momentum having picked up in Q3. The latest outturn marked a weak start to Q4, with the three-month trend softening to 52.1 in October from 53.8 in the three months to September. The Barometer decline was led by a slowdown in Production, which fell 5.4 points to 54.4, giving up most of the gain seen last month but remaining above the 2016 average.

New Orders also subtracted from the Barometer, falling to the lowest level since May. Order Backlogs increased slightly, but failed to jump out of contraction territory, where they have been over the past three months. Employment saw a smaller rise, edging back above the 50-breakeven level and recovering some of the lost ground experienced in the previous month. Meanwhile, Supplier Deliveries fell to the lowest level since June.

 

Euro is currently being traded around 1.0970 level, Sterling is above 1.22 area, while Aussie is at 0.76 handle.

More in this category: « Eurozone CPI expected to be 0.5% in October China's Manufacturing PMI growth fastest in two years »

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