July Chicago PMI Preview
July Chicago PMI is expected to is expected to fall to 49 from 49.6 in June. The index is expected to remain in contraction territory (below 50), but continue the noticeable improvement from the multi-year low of 44.5 in February.
The index for new orders fell to 52 in June from 56.1 in May. The shipments figure fell to 45.1 from 51.5, while the employment index grew to 46.7 from 41.2. Te prices paid index fell to 85.5 in June from 87.5 in July.
Expectations for a muted July Chicago PMI reading fall directly in line with major regional manufacturing surveys, including the July Empire Fed Index which improved to -4.92 in July from -8.68 in June, and the Philly Fed Index, which improved to -16.3 in July from -17.1 in June.
**Chicago Purchasing Manager subscribers have access to Chicago PMI about 15minues before its public release at 9:45am EDT.