Chicago PMI Comes In Hotter Than Expected

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By Jon C. Ogg Published
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The report from the Midwest’s Chicago Purchasing Managers rose nearly four points to a reading of 64.0 in February from only 60.2 in January.  Bloomberg had a consensus economist target of 61.0 for this report from February.

While this is only one region, it focuses heavily on manufacturing in the heartland of America.  The report is also used as a prelude and a pre-weather barometer for the broader nationwide Institute of Supply Management, or ISM. 

The report shows that the February CHICAGO BUSINESS BAROMETER rose to its highest level in ten months and is at its twenty-ninth consecutive month of expansion.  This was actually the fourth consecutive month where the index came in at or above 60. 

Increases were seen in six of the eight individual Business Activity Indexes and the report was highlighted by a very large advance in Employment.

JON C. OGG

Contact [email protected] for any questions or corrections.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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