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Thursday, July 9, 2020

Chicago PMI rises modestly in June, falls short of estimates

June Chicago PMI: 36.6 vs. 44.5 consensus, 32.3 prior, which was the weakest since 1982. Production and New Orders had the largest monthly gains, while Sup
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June Chicago PMI: 36.6 vs. 44.5 consensus, 32.3 prior, which was the weakest since 1982.

Production and New Orders had the largest monthly gains, while Supplier Deliveries and Employment fell further. For Employment, it was the 12th-consecutive sub-50 reading.

Order Backlogs rose to a two-month high.

Month’s special question: Hiring plans for rest of year. Most (55.8%) plan on a hiring freeze, while 23.3% expect further layoffs. Just 18.6% expected to boost their workforce.

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