Last Update: 31-Oct-14 10:15 ET
- The Chicago PMI increased to 66.2 in October from 60.5 in September. The Briefing.com consensus expected the index to fall to 60.0.
- Manufacturing conditions in the Chicago area are at their strongest level since October 2013 when the index reached 66.6.
- Production levels improved as the related index increased to 68.4 in October from 64.9 in September. Gains in backlogs (56.4 from 52.5) should bolster production growth over the next few months. New orders demand also strengthened as the related index rose to 73.6 in October from 60.0 in September.
- The Employment Index increased to 60.2 in October from 56.2 in September.
- The Chicago PMI has little overall economic value, and is only watched by the financial markets because it is usually released one day in advance of the similar national ISM manufacturing survey. A significant move in this regional survey will therefore sometimes be seen as having predictive value for the ISM index.