2017 Economic Calendar
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Chicago PMI  
Released On 12/28/2017 9:45:00 AM For Dec, 2017
PriorConsensusConsensus RangeActual
Business Barometer Index - Level63.9 62.5 61.0  to 65.4 67.6 

Highlights
Chicago's PMI sample ends an enormously strong year at a 6-1/2 year high, rising 3.7 points in December to 67.6. Production is at a 34-year high while new orders are at a less spectacular but still very striking 3-1/2 year high. One area not improving, however, is employment which is losing ground as members of the sample are having difficulty finding candidates. Lack of employment growth is of special note and has been cited by the Federal Reserve's Beige Book as a risk to continued business expansion. Signs of overheating are evident in this report which includes respondents from Chicago's manufacturing and non-manufacturing sectors.

Consensus Outlook
Growth has been steady and robust all year for the Chicago PMI which, at 63.9 in November, has been over 60 for the last three reports. Overheating is palpable in this report with a lack of available workers keeping down employment and limiting business expansion. For December, forecasters are calling for another 60-plus result at a consensus 62.5. This report tracks both the manufacturing and non-manufacturing sectors of the Chicago-area economy.

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


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