2017 Economic Calendar
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Chicago PMI  
Released On 10/31/2017 9:45:00 AM For Oct, 2017
PriorConsensusConsensus RangeActual
Business Barometer Index - Level65.2 62.0 58.0  to 65.0 66.2 

Highlights
Overheating is the possible theme from the Chicago PMI which rose a further 1 point in October to 66.2 for the highest score of the expansion. New orders are very strong and continue to fill backlogs which are at a 43-year high, one fed only in part by hurricane disruptions.

The key to the report is employment which contracted, not because employers don't want to hire but because they can't find qualified candidates. And the report notes evidence that firms in the sample are losing their skilled workers to rivals paying higher wages.

The lack of available labor means the Chicago PMI needs to cool before imbalances, including wage-push inflation, begin to appear. This report covers both the manufacturing and non-manufacturing sectors.

Recent History Of This Indicator
No regional report has been stronger than the Chicago PMI which, at 65.2, hit a 29-year high in September. The sample's backlogs have piled up which points to future gains for hiring. For October, forecasters are unsurprisingly calling for slowing, to a still 60-plus consensus at 62.0.

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
 
 

2017 Release Schedule
Released On: 1/312/283/314/285/316/307/318/319/2910/3111/3012/29
Release For: JanFebMarAprMayJunJulAugSepOctNovDec
 


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