Chicago PMI surprises to the upside
The Dec Chicago PMI manufacturing index was a much better than expected 60, 5 pts above forecasts and up from 56.1 in Nov. It’s the highest reading since Jan ’06 but measures the direction of improvement, not the degree. The bright spot was the near 10 pt rise in the Employment component which is back above 50 for the 1st time since Nov ’07 at 51.2. New Orders rose less than 1 pt but remains elevated at 63.5, the most since May ’07. Production, which follows orders, rose more than 8 pts to 65.8 and Backlogs rose 6.5 pts to 53. Inventories improved by 4.5 pts to the highest since Nov ’08. Prices Paid rose 2.3 pts to 54.9, the most since Sept ’08 when it reached 81.4. Bottom line, the number was solid and adds to the story that manufacturing will be the main contributor to Q4 growth. The Chicago region captures auto production and that is a key area of hoped for inventory rebuilds. The ISM on Monday will reconcile the regional surveys.
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December 31st, 2009 at 4:09 am
Peter
Thanks for a year of post.
Have a happy new year.
January 1st, 2010 at 7:43 am
[...] Index( 제조업지수)가 11월 대비 대폭 상승하며 60.5 point를 기록했다는 Post입니다. 차후 발표될 ISM도 [...]
January 1st, 2010 at 1:52 pm
Of course it was revised lower, later…
http://www.marketwatch.com/story/us-stocks-fall-after-chicaco-pmi-revised-lower-2009-12-31?siteid=bulletrss
U.S. stocks fall after Chicago PMI revised lower
NEW YORK (MarketWatch) — U.S. stocks added to losses in late morning trade Thursday, after the Chicago Institute for Supply Management revised lower its December business activity index to take into account seasonal factors, only a day after issuing its initial assessment. The December index was revised to 58.7 from Wednesday’s reported 60.0. Readings from September to November were also revised lower.
Why don’t you bring forward these facts? Are you merely a CONfidence man Peter?