Highlights
The Chicago purchasers report offers an early view of economic conditions in January -- and the results point to continuing contraction at a severe rate. The headline index fell nearly 2 points to 33.3 with order readings showing continuing and severe month-to-month contraction. The production index is especially weak while the employment index shows the largest drop of any index. Businesses in the Chicago area continue to draw down inventories. Prices paid shows contraction but at a slower rate. There was no significant reaction to the results which point to no improvement for next week's monthly manufacturing and non-manufacturing reports at the national level (ISM reports).

Market Consensus Before Announcement
The NAPM-Chicago purchasing managers' index pointed to continued deterioration in the Chicago area economy with the main index for December deep in negative territory at 34.1 - one of the lowest readings in the 40-year history of the report. But the index is still above the June 1980 record low of 21.3. However, prices paid are at a record low, down more than 20 points to 30.5 and signaling that buyers are scarce.

NAPM-Chicago Consensus Forecast for January 09: 34.0
Range: 29.9 to 38.8

2009 Release Schedule

Released On: 1/30 2/27 3/31 4/30 5/29 6/30 7/31 8/31 9/30 10/30 11/30 12/30 Released For: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec