Connect With PPD
Follow Us:
Economy

MNI Chicago Business Barometer (PMI) Unexpectedly Cools in March

SUV parts are fabricated in the stamping facility at the General Motors Assembly Plant on June 9, 2015. (Photo: Reuters)

The MNI Chicago Business Barometer (PMI) unexpectedly fell 4.5 points to 57.4 in March, down from 61.9 in February, hitting the lowest level in exactly one year. The Institute for Supply Management (ISM) said growth in the Barometer, which has been extraordinarily strong, moderated for a third straight month.

Three of the five Barometer components receded on the month, with only Employment and Supplier Deliveries expanding.

“The Chicago Business Barometer calendar quarter average had increased for six straight quarters until Q1 2018, with the halt largely due to the recent downward trajectory of orders and output,” said Jamie Satchi, Economist at MNI Indicators.

Compared to March last year, the Barometer was up 0.5%. On the quarter, the Barometer was down on Q4 2017 but Q1’s outturn was still the second-best calendar quarter result since Q2 2014 and the best first quarter outturn since 2011.

“Troubles higher up in firms’ supply chains are restraining their productive capacity and higher prices are being passed on to consumers,” Mr. Satchi added. “On a more positive note, firms remain keen to expand their workforce.”

Indeed, the Employment indicator rose to the second highest level in the past 12 months.

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

4 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

4 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.