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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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The National Association of Purchasing Management - Chicago compiles a survey and a composite diffusion index of business conditions in the Chicago area. Manufacturing and non-manufacturing firms are both surveyed, but until recently, market players have believed that the survey primarily covers the manufacturing sector. Readings above 50 percent indicate an expanding business sector. The NAPM - Chicago is considered a leading indicator of the ISM manufacturing index. Why Investors Care
| Released on 3/31/06 For Mar 2006 | ||||||||||||
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Highlights
Chicago purchasers reported a rise in business activity in March, at an index of 60.4 vs. 54.9 in February. Importantly, new orders showed a sharp gain to 62.2 vs. 54.9 and pointing to stronger overall activity in the months ahead. Current production was also strong, at 65.1 vs. 56.0. Employment also showed a good gain to 55.6 vs. 54.9.
Prices paid, always closely watched by the bond market for signs of inflation, remained high at 71.1 vs. 71.6 but at least didn't show new acceleration.
Today's report should make for solid expectations on Monday's ISM manufacturing report as well as ISM's non-manufacturing report on Wednesday. The gain in employment may also boost early expectations for Friday's big jobs data. Financial markets showed no initial reaction to the data.
The NAPM-Chicago's business barometer fell 3.6 percentage points in February to 54.9. This index, which measures both manufacturing and non-manufacturing activity in the Chicago region, is often considered a leading indicator for the ISM manufacturing index. The New York Fed survey was higher in March than in February, although the Philadelphia Fed survey dipped slightly during the month.
NAPM-Chicago Consensus Forecast for Mar 06: 56.5
Range: 52.5 to 60
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The NAPM-Chicago Survey registers manufacturing and non-manufacturing activity in the Chicago region. Investors care about this indicator because the Chicago region mirrors the nation in its distribution of manufacturing activity. Consequently, the NAPM-Chicago survey often moves together with the ISM index, but is reported one day in advance. |
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