ECON: Chicago PMI Misses Estimates Slightly, Employment Lower
- PMI 49.9 vs 51.0 Consensus
- New Orders 50.6 vs 47.4 last month
- Employment 50.3 vs 52.0 last month
"The Chicago Purchasing Managers reported October's Chicago Business Barometer idled, up just 0.2 to a still contractionary 49.9. Business Activity measures reflected weakness in five of seven indexes, most notably as the rate of expansion in Production and Employment slowed while New Orders stalled near neutral and Order Backlogs remained in contraction."
- EMPLOYMENT: 33 month low;
- INVENTORIES: slipped into contraction;
- PRICES PAID: inflation slowed a bit;