Chicago PMI Kicks Off The Week On A Positive Note

by: Bespoke Investment Group

In what is likely to be a busy week for economic data (provided there is no government shutdown), things kicked off on a positive note Monday with a better-than-expected Chicago PMI report. While economists were expecting the headline reading to come in at a level of 54.5, the actual level was 55.7. This was enough for the highest level since May's reading of 58.7.

The table above breaks down this morning's report by category. Of the index's seven sub-components, this month we saw month/month increases in five components while Employment and Prices Paid were the only categories that showed declines. Relative to a year ago, today's report was equally as impressive. Here again, Inventory and Prices Paid were the only two categories that declined relative to last year's reading, while the remaining five categories are higher now than they were last year.

Click to enlarge