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Chicago PMI  
Released On 10/30/2009 9:45:00 AM For October, 2009
PriorConsensusConsensus RangeActual
Business Barometer Index - Level46.1 48.5 47.1  to 51.0 54.2 

Huge swings are common for the Chicago purchasers' report, the effect of small sample sizes. Chicago's business barometer jumped more than 8 points in October to 54.2 reflecting a nearly 17 point month-to-month surge in production and a more than 15 point surge in new orders. Employment is one reading that didn't surge, slipping 5 tenths to a 38.3 level that indicates a slightly increasing rate in layoffs. Businesses in the Chicago area, evidently pressed to keep up with production needs, drew down their inventories in the month with the index down nearly 7 points to 32.2. Prices showed little change in the month, hovering near the break-even level of 50 for a third month in a row. Stocks moved off opening lows in reaction to the results, a reaction however that proved only brief as stocks soon resumed their declines. Chicago's data, whose sample includes both manufacturing and non-manufacturing firms, seems to be following, not leading national data from the Institute For Supply Management (ISM) which will be posting its October results next week.

Consensus Outlook
The Chicago PMI rattled financial markets last month as it fell to 46.1 in September from 50.0 in August, indicating overall business in the Chicago area contracted slightly for the latest month. The index covers both manufacturing and non-manufacturing. Looking ahead, expect another soft reading in October as the new orders index for September also slipped back into negative territory.

The Institute For Supply Management - Chicago compiles a survey and a composite diffusion index of business conditions in the Chicago area. Since October 2011, the survey has been conducted by Market News International. Manufacturing and non-manufacturing firms both are surveyed. Hence, it is not directly comparable to pure manufacturing surveys. Readings above 50 indicate an expanding business sector.  Why Investors Care

Data Source: Haver Analytics

2009 Release Schedule
Released On: 1/302/273/314/305/296/307/318/319/3010/3011/3012/30
Release For: JanFebMarAprMayJunJulAugSepOctNovDec

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