Chicago PMI figure disappointments in November

Chicago PMI recorded a significant fall in November and stood at 48.7. At a disaggregate level, the production stood at 50.9 against 63.4 in previous month, new orders at 44.1 against 59.4.

A sharp fall in these two components caused the overall index to come down. The employment index, in contrast, shown a marginal improvement, it increased to 51.6 against 50.6 in November last month.

"The Chicago PMI, formerly a reliable leading indicator of the national ISM indices, has experience heightened volatility this year. While the negative reading in November suggests sluggish Chicago-area activity, we do not see this morning's print as necessarily indicative of a national slowdown", says Barclays.