Analysts at Nomura forecast a reading of 59.0 for June’s Chicago PMI, from 62.7 in May.
Key Quotes
“We think positive momentum in the industrial sector supported business sentiment in June. Consistent with this view, sentiment indicators such as the Philly Fed and Empire State surveys suggest continued growth in manufacturing sector activity. However, increasing trade concerns pose downside risks.”
“The new orders index and six-month ahead general activity index in the Philly Fed survey fell, pointing to some softening in momentum. While it is possible these indicators reflected rising trade concerns, the Empire State survey showed broad-based strength, contrasting with the Philly Fed survey.”
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