2018 Economic Calendar
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Chicago PMI  
Released On 1/31/2018 9:45:00 AM For Jan, 2018
PriorPrior RevisedConsensusConsensus RangeActual
Business Barometer Index - Level67.6 67.8 64.0 60.0  to 67.7 65.7 

Highlights
Chicago PMI's sample starts off 2018 where it left off 2017, at a rare rate of growth. January's 65.7 easily beats Econoday's consensus for 64.0 with strength led by a 6-year high for employment and slowing in delivery times. Both of these factors are consistent with capacity stress which has been apparent in this survey. An easing back in order acceleration during January and a draw in backlogs are probably positives for the month. Production also slowed. Unsustainable growth has been the signal from the Chicago report where readings, in more than 50 years of data, have been at historic highs.

Consensus Outlook
Enormously strong growth, well in excess of the national economy, was last year's results for the Chicago PMI which surged to end 2017 at a December score of 67.8 (revised 2 tenths higher from the initial reading). This index doesn't have much headroom left as forecasters are calling for easing in January to what is still a very robust 64.0. Readings from this sample, which track both manufacturing and non-manufacturing firms in the Chicago economy, are at or near historic highs in data that go back more than 50 years.

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
 
 

2018 Release Schedule
Released On: 1/312/283/294/305/316/297/318/319/2810/3111/30
Release For: JanFebMarAprMayJunJulAugSepOctNov
 


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