2018 Economic Calendar
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Chicago PMI  
Released On 7/31/2018 9:45:00 AM For Jul, 2018
PriorConsensusConsensus RangeActual
Business Barometer Index - Level64.1 62.3 57.3  to 64.8 65.5 

Highlights
The Chicago PMI continues its torrid pace, at 65.5 in July to top Econoday's consensus range and the strongest showing since January this year. New orders and production are also the strongest since January with backlogs the highest since October last year.

The pressure is being reflected in prices with input costs at their highest level of the ongoing expansion, since September 2008. The report notes that price pressures are also attributable to recently imposed tariffs on imports. Delivery times remain elevated and are contributing to an inventory draw down of raw materials. Skilled labor is still in short supply but the sample is nevertheless adding staff.

Rising costs and capacity stress aside, the Chicago sample's confidence is strong with over half expecting third-quarter orders to exceed those of the second quarter.

Consensus Outlook
Easing strength at a very high level is the call for the Chicago PMI with the July consensus at 62.3 vs an overheated 64.1 in a June report when delivery delays hit a 14-year high and input costs a 7-year high.

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, known as the Chicago PMI, is posted at month-end for the current month and is often used, though it has a non-manufacturing component, as a barometer for the ISM manufacturing index which is released the next business day.
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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