econintersect .com

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.

posted on 29 September 2017

September 2017 Chicago Purchasing Managers Barometer Well Above Expectations

The Chicago Business Barometer rose to the second highest level in more than three years. This survey came in above expectations.

Analyst Opinion of Chicago PMI

The results of this survey continue to agree with district Federal Reserve manufacturing surveys - and aligns with the overall trend of the ISM manufacturing survey.

From Bloomberg / Econoday, the market expected the index between 55.0 to 60.0 (consensus 58.6) versus the actual at 65.2. A number below 50 indicates contraction. Jamie Satchi, economist at MNI Indicators stated,

"The strong outturn in September means that on a quarterly basis business activity was broadly unchanged from an already impressive Q2. Looking forward, firms are on record expecting a busy Q4 despite disruptions caused by the recent storms, with just a handful expecting delivery times to lengthen between October through December,

From ISM Chicago:

The MNI Chicago Business Barometer rose to 65.2 in September, up from 58.9 in August, hitting the highest level in three months and the second highest level in more than three years.

Optimism among firms about business conditions was bolstered in September after August's flat showing, with each of the Barometer's sub-components strengthening. A marked rise in Order Backlogs, up to a 29-year high, was among the month's highlights. September's survey result left the Q3 calendar average of the Barometer at 61.0, virtually unchanged from Q2's three-year high of 61.1.

The sharp rise in sentiment was the result of widespread gains, though particularly concentrated in demand, backlogs and employment. Together, these account for 60% of the headline Barometer. The increases in Production and Supplier Deliveries, accounting for the remaining 40%, were slightly more modest in comparison.

Four of the five Barometer components rose to levels just shy of the highs set in June, with only Order Backlogs surpassing it, hitting a level not seen since July 1988. Output and New Orders rose for the second consecutive month in September while the recent barrage of storms was reported to have weighed on delivery times. The adverse weather conditions also led some companies to stockpile goods as a precautionary measure. The Inventories indicator rose by 8.4 points to the highest level since March.

z chicago pmi.png

The Chicago ISM is important as it is a window into the national ISM reports which will be issued shortly. When you compare the graph below of the ISM Manufacturing Index against the Chicago PMI (graph above) - there is a general correlation in trends, but not necessarily correlation in values.

source and read the full report: Chicago PMI

>>>>> Scroll down to view and make comments <<<<<<

Permanent link to most recent post on this topic

Click here for Historical Releases Listing

Make a Comment

Econintersect wants your comments, data and opinion on the articles posted. You can also comment using Facebook directly using he comment block below.

Econintersect Economic Releases

Print this page or create a PDF file of this page
Print Friendly and PDF

The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.

Keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Middle East / Africa
USA Government

 navigate econintersect .com


Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day


Asia / Pacific
Middle East / Africa
USA Government

RSS Feeds / Social Media

Combined Econintersect Feed

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution



  Top Economics Site Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2018 Econintersect LLC - all rights reserved