2014 Economic Calendar
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Chicago PMI
Released On 3/31/2014 9:45:00 AM For Mar, 2014
PriorConsensusConsensus RangeActual
Business Barometer Index - Level59.8 59.0 57.2  to 60.6 55.9 

Highlights
The Chicago economy has slowed this month with the PMI at 55.9 for its lowest reading since August, down from 59.8 in February and below the low end of the Econoday consensus for 57.2. A major swing lower in employment to a neutral reading, one that reverses February's major swing higher, is a major negative in today's report. Another major negative is a sharp slowing in the most key reading of all, new orders. Precise details of the report, where subscribers are given special access, are not available. This report had been showing some of the strongest growth rates of any business survey, a factor that limits the implications of March's slowing. Despite the slowing, the Dow is moving to opening highs in early trading.

Market Consensus before announcement
The Chicago PMI for February indicated that February's heavy weather didn't slow down the Chicago economy where the composite business index edged 0.2 points higher to 59.8. Details of the report, where subscribers are given special access, were sketchy but included a huge 10.1 point spike in employment to 59.3. This index had fallen 11.1 points in the two prior months. Exact numbers were not available for other readings though new orders and production are described as hovering in the 60 area.

Definition
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 percent indicate an expanding business sector.  Why Investors Care
 
[Chart]
The ISM-Chicago survey (traditionally and informally called the Chicago PMI) 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
 

 

2014 Release Schedule
Released On: 1/312/283/314/305/306/307/318/299/3010/3111/28
Release For: JanFebMarAprMayJunJulAugSepOctNov
 


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