Chicago PMI Sees Sharp Decline in February

The Chicago Business Barometer fell last month for the first time since last November, according to the latest indicators from Market News International (MNI) and the Institute for Supply Management (ISM). February’s Purchasing Managers Index (PMI) reading was 56.3, down 8.9 points from January, as almost a quarter of the firms surveyed reported New Orders slowing.

Demand was not as robust as anticipated, with all five of the main indicators slipping month on month, with New Orders and Supplier Deliveries taking the largest hit.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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