Chicago-manufacturing activity rises for the first time in five months
The Institute for Supply Management-Chicago reported that Chicago-area manufacturing activity rose slightly into positive territory in July after five months of contraction.
The Chicago Tribune reported on the study completed by the Institute for Supply Management-Chicagons while others, like new orders and hiring, are future projections. The business barometer used by the institute moved up to 50.8 from 49.6 in June. Any reading below 50 shows a contracting manufacturing activity; while an above 50-level indicates expansion.
While the chicago PMI is regional in scope, investors and economists scrutinize the report for trends because it is typically released just one day before an influential nationwide manufacturing survey is issued. The ISM's national index is set for release Friday.
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey