2017 Economic Calendar
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Chicago PMI  
Released On 5/31/2017 9:45:00 AM For May, 2017
PriorConsensusConsensus RangeActual
Business Barometer Index - Level58.3 57.5 56.0  to 60.0 59.4 

A full correction has been issued by Market News International (MNI) for its Chicago PMI, turning what was a weak report into a strong one. The May headline of 59.4 (initially reported by MNI as 55.2) is the highest in 2-1/2 years with production continuing to strengthen and backlog orders jumping out of contraction. Rising backlogs are a positive for employment which improved sharply in the month. Another indication that demand is strong is slowing in delivery times which the report attributes in part to lack of inventories among suppliers. Input costs are easing but remain elevated. One of the few weaknesses in the corrected report is slowing in new orders.

Consensus Outlook
The Chicago PMI has been uncharacteristically steady the last three reports, holding in the high 50 range consistent with very strong growth. New orders, at a 3-year high, were a highlight of the April report and point to strength for shipments and employment as well as for other activity in May. This report tracks both the non-manufacturing and manufacturing sectors of the Chicago-area economy.

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 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

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