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MNI Chicago Business Barometer Suggests Weaker ISM Manuf. PMI

MNI (London)

Reweighting the Chicago PMI to the ISM Manufacturing PMI (released at 1000ET/1500GMT) weights exemplifies the strong correlation between the two indicators, calculated at approx. 0.85 over the last 15 years.

  • Ahead of today’s ISM release, the Chicago PMI based on ISM weights foreshadows a continued downward trend in the US manufacturing industry.
  • The Chicago Business BarometerTM moderated by -0.8 points to 44.3 in January; the fifth consecutive month below 50.
  • Consensus is currently looking for a 0.4-point dip to 48.0 in January, largely in line with the Chicago PMI's indication.

Source: MNI / ISM

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