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Chicago PMI Moves Back Above 50, But New Orders Plunge

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Economic Update: Chicago Purchasing Managers Index

The Chicago Purchasing Managers Index (PMI) for November rose to a reading of 50.4, which was below the consensus expectations for a reading of 50.5.

Prior Readings:

  • October: 49.9
  • September: 49.7
  • August: 53.0
  • July: 53.7
  • June: 52.9
  • May: 52.7
  • April: 56.2
  • March: 62.2
  • February: 64.0
  • January 2012: 60.2
  • December: 62.2
  • November: 62.6
  • October: 58.4

      However, the alarming part of the report came in the New Orders component.

      The New Orders component was reported at 45.3 vs. 50.6 last month (prior: 47.4) â?? this was the lowest level for New Orders since June 2009

      The Prices Paid component: 70.1 vs. 59.3 last month (prior: 59.3)

      The Chicago PMI is designed to indicate the health of the manufacturing sector in the region. Readings above 50.0 indicate expansion while readings below 50 indicate contraction.

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    • About the Author

      David Moenning is a the Chief Investment Officer at Heritage Capital Management. Dave is also the proprietor of StateoftheMarkets.com, which provides free and subscription-based portfolio services. Dave began his investment career in 1980 and has been an independent money manager since 1987. Thus, Dave has been live on the firing line and investing for a living for more than 25 years.