Chicago PMI Drops to Lowest Level Since 2003

The Chicago purchasing managers index (Chicago PMI) fell to 49.9% in November from 53.5% in October. This is the lowest level since April 2003. Readings below 50 indicate contraction in the region. The index is a precursor of the nationwide purchasing managers report to be issued Friday by the Institute for Supply Management.
  • The employment index dropped to 49.4% from 57.0%. 
  • The prices paid index fell to 60.2% from 62.5% in October. 
  • The new orders index fell to 52.0% from 54.1%. 
  • Inventories fell to 57.7% from 67.2% in the previous month. 
  • The deliveries-diffusion index fell to 43.0% from 54.1%. 

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