The Chicago PMI came in weaker at 60.5 vs estimates of 62. 0 (last month was 64.3). Milwaukee ISM was also released today and it came out stronger at 63.18 (estimate was 61.0)
Looking at six region manufacturing indices for the month of September, four showed gains while two declined (Chicago and Philadelphia). Although Chicago fell, it still is well above the 50 level which is the dividing line between expansion and contraction. For Philly, the 22.5 reading is near high levels. So overall, the trends are positive for manufacturing in the month of September.
Below is the infograph showing the trends for the major US Manufacturing cities. (CLICK HERE for printable PDF)
Fundamental Analysis: Trends in the Manufacturing PMI is positive.
