Key Insights
- Chicago PMI decreased from 55.8 in November to 46.9 in December.
- SP500 remains stuck below the 4800 level as traders are not ready for big moves in the last trading session of the year.
- U.S. dollar is moving lower after the release of the disappointing report.
On December, 29, the Institute for Supply Management released Chicago PMI report. The report indicated that Chicago PMI declined from 55.8 in November to 46.9 in December, compared to analyst consensus of 51. Numbers below 50 show contraction.
Chicago PMI is back below the key 50 level after a brief move towards 55.8. It should be noted that Chicago PMI spent 11 months out of 12 below 50. Analysts were more optimistic, but it looks that the previous reading was an aberration, and the general trend remains intact.
