Chicago Manufacturer index shows month to month decline
The activity in the industry around the city of Chicago has again grown less strongly in January than a month earlier. That is what market researcher Institute for Supply Management (ISM) announced.
The purchasing managers index that measures the business around Chicago went to 56.7 from a revised 63.8 in December. Earlier, a stand of 65.4 was reported for December. Economists awaited an average level of 61.5 for the Chicago ISM index. Indexes higher than 50 indicate positive industry mood, while indexes less that 50 indicate generally negative expectations among the management community. With ISM 56.7 the industry is still in a positive territory thus there is no need to worry about the index.
The reasons for the decline remain unknown and the usual set of speculations arise from the governmental shutdown and the trade war with China.