Home Economics Chicago PMI Jumps To 2 Year Highs Despite Plunge In Employment Index

Chicago PMI Jumps To 2 Year Highs Despite Plunge In Employment Index

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The good news – another ‘soft’ survey data item inches to a new post-Trump high as Chicago PMI rises to 57.7 – highest since Jan 2015. However, the bad news is that exuberant hope is not translating into hard reality as the employment sub-index collapsed into contraction.

The 57.7 print beat expectations of a modest decline to 56.9, but the employment component crashed from 57.7 to 49.9 – into contraction.

Business barometer rose at a faster pace, signaling expansion

  • Prices paid rose at a slower pace, signaling expansion
  • New orders rose at a faster pace, signaling expansion
  • Employment fell and the direction reversed, signaling contraction
  • Inventories rose at a faster pace, signaling expansion
  • Supplier deliveries rose at a faster pace, signaling expansion
  • Production rose at a faster pace, signaling expansion
  • Order backlogs fell at a slower pace, signaling contraction
  • Business activity has been positive for 12 months over the past year.



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