Chicago PMI stable in August

The Chicago Business Barometer, also known as the Chicago PMI, rose to 52.2 in August from 52.1 the previous month.

Economists polled by The Wall Street Journal predict a figure of 52

Supplier shipments fell to their lowest level since July 2020. Both orders and production improved in August. Price pressure remained severe.

Chicago's PMI is the latest regional manufacturing index before the national ISM data for July is released on Thursday.

Overall, August's survey of other regions shows a softening in the ISM factory index, but it is likely to remain in expansion territory.

according to Rubela Farooqi, chief US economist for High Frequency Economics.

Economists polled by the Wall Street Journal expect the ISM factory index to fall to 51.8% in August from 52.8% the previous month.

GMC Hummer EVs are seen on an assembly line at the General Motors Factory ZERO electric vehicle assembly plant in Detroit, Michigan.


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