EmailThe Chicago Purchasing Managers Index from Kingsbury International, Ltd., increased from 58.4 in October to 62.6 in November. That was the strongest reading since April. The Briefing.com consensus expected the Chicago PMI to decrease to 57.5.
Whereas other regional manufacturing surveys have repeatedly shown stagnant or even downward-trending manufacturing growth for the past few months, the Chicago area has remained strong. This may be due to a heavy bias toward auto manufacturers, which have expanded production substantially since the supply shortages following the Japanese earthquake and tsunami.
The production index increased from 63.4 in October to 67.3 in November. That is the highest level since April. Both new and unfilled orders strengthened in November.
New orders reached their highest point in six months, jumping from 61.3 in October to 70.2 in November. Unfilled orders rose from 51.2 in October to 55.1 in November.
The employment index dipped from 62.3 in October to 56.9 in November. With September and October levels above 60, the drop in November is not a concern.
