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