2018 Economic Calendar
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Chicago PMI  
Released On 4/30/2018 9:45:00 AM For Apr, 2018
PriorConsensusConsensus RangeActual
Business Barometer Index - Level57.4 57.8 55.5  to 60.0 57.6 

Increasing indications of capacity stress now include the prices paid index of the Chicago PMI report which moved over 70 in April for a 22.8 percent year-on-year rise. This is a 7-1/2 year high and reflects, in large part, rising steel prices. The headline index came in at 57.6 in the April report which is a strong rate of growth but down from last year's late run in the mid-60s. New orders have slowed this month while backlogs, for a fourth straight month, posted a decline.

The slowing in orders is probably welcome for this sample where signs of capacity stress, beyond prices, also include delivery times which continue to lengthen and where tie-ups in steel shipments are a factor. Steel is not moving into inventories, at least yet as inventories posted their lowest reading since August. Other indications in today's report include a 6-month low for employment.

Consensus Outlook
Strong growth but only modest acceleration is the consensus for the Chicago PMI, to a consensus 57.8 in April vs 57.4 in March. Capacity stress has been a question for this sample as delivery times have been lengthening and skilled workers hard to find.

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

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

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