2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

Chicago PMI  
Released On 1/31/2017 9:45:00 AM For Jan, 2017
PriorConsensusConsensus RangeActual
Business Barometer Index - Level54.6 55.3 54.7  to 57.0 50.3 

Highlights
January was a flat month for the Chicago PMI which could manage only 50.3, virtually at the breakeven 50.0 level that indications no change from the prior month. New orders have now joined backlog orders in contraction in what is a negative combination for future production and employment. Current production eased but is still solid though employment is clearly weakening, in contraction for a 3rd straight month. One special note is pressure on input costs which are at a 2-1/2 year high. Business spirits and consumer expectations may be high, but they have yet to give the Chicago economy much of a boost. Watch for the consumer confidence report later this morning at 10:00 a.m. ET.

Consensus Outlook
The Chicago PMI fell 2.4 points higher in December to a still solid 54.6 though growth in new orders slowed and backlog orders moved back into contraction. Forecasters see a modest bounce back higher for January, at a consensus 55.3.

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 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
 
 

2017 Release Schedule
Released On: 1/312/283/314/285/316/307/318/319/2910/3111/3012/28
Release For: JanFebMarAprMayJunJulAugSepOctNovDec
 


powered by  [Econoday]