Chicago PMI Explodes Higher, Beats By 5 Standard Deviations

Everything is awesome again in Chicago apparently...

Against expectations of a modest drop from 58.9 to 58.7, MNI's Chicago Business Barometer exploded higher to 65.2 in September...

 

This is well above the highest analyst expectation and 5 standard deviations above expectations...


Under the hood, it's also awesome...

  • Prices paid rose at a faster pace, signaling expansion
  • New orders rose at a faster pace, signaling expansion
  • Employment rose and the direction reversed, signaling expansion
  • Inventories rose and the direction reversed, signaling expansion
  • Supplier deliveries rose at a faster pace, signaling expansion
  • Production rose at a faster pace, signaling expansion
  • Order backlogs rose at a faster pace, signaling expansion
  • Business activity has been positive for 12 months over the past year.
  • Number of components rising vs last month: 7

Comments

SRV Yukon Cornholius Fri, 09/29/2017 - 11:08 Permalink

The ISM-Chicago Business Survey, a regional view of the national economy, is a time-tested, market-moving report. The CHICAGO Report is available to subscribers 3 minutes before its release to the public 8:45 a.m. CT on the last working day each month. The Chicago Business Barometer, summarizing current business activity, also is known as Chicago Purchasing Manager Index or Chicago PMI. The Barometer is considered to be a leading indicator of the USA economy.

In reply to by Yukon Cornholius

Justin Case Juggernaut x2 Fri, 09/29/2017 - 11:52 Permalink

Gov'ts love stacked housing. It generate maximum tax dollars per sq/ft. It also creates high density, which the city never plans for. Infrastructure is an after thought because it requires spending those tax dollars. So, the economic efficiency drops. Costs rise. Transportation system and movement of traffic in and out of the cities takes longer, which adds to the cost of transporting goods in and out. Trucks stuck in traffic burning fuel and paying the driver that is sitting still. Late delivery to stores that might pay overtime to people to off load the truck, to re-stock shelves, etc. People in NY will jump out of cabs if the traffic is too heavy, pay the driver and start walking.

In reply to by Juggernaut x2