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U.S. September Chicago PMI Drops to 40.6, Below Expectations

The September ISM non-manufacturing PMI fell to 50, underscoring weaker-than-expected U.S. services sector momentum as it slipped from the prior 52 and missed forecasts of 51.7.

Summary

The U.S. ISM non-manufacturing PMI for September registered at 50, below the expected 51.7 and down from the prior month’s 52. This indicates a stagnation in the services sector, contrasting with the Chicago PMI report that also signaled weakening economic activity. Readings at or below 50 suggest stagnation or contraction in sector performance.

Terms & Concepts
  • Chicago PMI: A monthly economic indicator that measures manufacturing activity in the Chicago region, reflecting business conditions and economic health.
  • Purchasing Managers' Index (PMI): An index derived from surveys of purchasing managers, indicating trends in manufacturing and service sectors based on factors like new orders, production, and employment.
  • ISM Non-Manufacturing PMI: An index published by the Institute for Supply Management that measures the performance of the U.S. services sector based on surveys of purchasing and supply executives.