2010 Economic Calendar
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Chicago PMI  
Released On 7/30/2010 9:45:00 AM For Jul, 2010
PriorConsensusConsensus RangeActual
Business Barometer Index - Level59.1 56.0 51.4  to 58.4 62.3 

Just when you think the economic tide has sunk, Chicago purchasers report wide, deep strength during July. The Chicago PMI rose to 62.3, a level right at the top of the recovery and indicating very strong, if not robust, month-to-month growth.

Growth is centered where it should be, in new orders which jumped 5-1/2 points to 64.6. Backlog orders shot up nearly seven points to 57.6. Plenty of orders means lots of production and even, perhaps, demand for new employees. The employment index rose nearly 2-1/2 points to 56.6, well above break-even 50 to indicate hiring in the month. Other details also show strength in a report that shows no weakness.

The only question is the report's sample size which is often small. The data aren't definitive but do point to strength for next week's national purchaser reports from the ISM.

Consensus Outlook
The Chicago PMI edged down six tenths in June to 59.1 but remained well over 50 to indicate significant month-to-month growth for the area's business activity. The new orders index for June, however, slipped to 59.1 from a prior string of 60-plus readings.

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
The Chicago-PMI survey registers manufacturing and non- manufacturing activity in the Chicago region. Investors care about this indicator because the Chicago region somewhat mirrors the nation in its distribution of manufacturing and non-manufacturing activity. Many like to compare the Chicago-PMI with following business day's ISM manufacturing index but they do not always move in tandem since the national ISM is only for manufacturing.
Data Source: Haver Analytics

2010 Release Schedule
Released On: 1/292/263/314/305/286/307/308/319/3010/2911/3012/30
Release For: JanFebMarAprMayJunJulAugSepOctNovDec

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