Economy
September 30, 2015
Chicago PMI Drops Unexpectedly in September
Written by Sandy Williams
The Chicago Business Barometer, or Chicago PMI as it is more commonly known, surprised economists by dropping 5.7 points to 48.7 in September The decline follows two months of expansion and the speed of descent is a cause for concern said MNI Indicators.
The production index plummeted by double digits to its lowest level since July 2009 pushing the headline PMI into negative territory. New orders dropped significantly and manufacturer backlogs remained in contraction indicating business are working below capacity.
