Economy
January 2, 2020
Chicago PMI Disappoints in December
Written by Sandy Williams
The Chicago Business Barometer remained in contraction with a reading below 50 in December, but rose 2.6 points to 48.9. An increase in production and supplier deliveries helped boost the PMI for the month, said MNI Indicators. The production PMI rose 4.9 points to 47.2 The index for supplier deliveries gained 5.1 points to register 55.4
The PMI rose less than expected, said Forex financial writer Chris Lewis. “It shows that the economy is still shrinking as far as purchasing is concerned by managers in large businesses. That being said, it is a mixed bag as it is better than anticipated but hardly bullish. Perhaps the best phrase to use for this announcement is ‘less bad than expected.’”
