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Thursday, Jan 31
Jan. Chicago PMI: 55.6 vs. 50.5 expected, 51.6 prior.
Jan. Chicago PMI:
vs. 50.5 expected, 51.6 prior.
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This dovetails with the GDP report that private investment almost covers loss of gov't defense spending cuts.
31 Jan, 09:48 AM
Private investment? You mean the housing bubble being infused by the Fed? We know how that is going to end. Things are going to get really touch when we start cutting spending more and raising taxes more to try to unwind our debt and then housing turns back down as potential buyers the Housing Recovery is just another Wall Street scam of bundling foreclosed houses around the country into rental property that can't really be managed easily and costs more than its worth.
Get rid of bad debt. That's the only sollution to our current blindness.
31 Jan, 12:26 PM
Chicago has an 83% correlation to national number...
31 Jan, 09:52 AM
Only the revised numbers, not the initial.
31 Jan, 10:04 AM
Chicago PMI is in a good agreement with this article published on December 27:
31 Jan, 10:07 AM
Actually the "prior" was not 51.6. The last 6 months wee corrected earlier this week. No nobody seemed to have noticed.
But first here is the headline from December:
Chicago PMI Beats, New Orders Up
Live Trading News-Dec 29, 2012
The Chicago Purchasing Managers Index PMI for the month of December rose from 50.4 in November to 51.6, the 3rd straight monthly increase ...
Pretty positive headline...
Here are the corrected numbers. PMI dropped every month since July. Perhaps January will be corrected too.
(Changes all revised figures for NAPM-Chicago index and new orders component after ISM-Chicago issues corrected data) Jan 28 (Reuters) - The Institute for Supply Management-Chicago on Monday released corrected annual revisions to its index of Midwest business activity. The NAPM and New Orders figures were corrected. The revised figures for the past six months follow: Dec Nov Oct Sept Aug July NAPM-Chicago 50.0 50.2 50.7 50.9 54.1 54.6
31 Jan, 10:35 AM
Appreciate your vigilance on this, Tom.
31 Jan, 01:06 PM
Too young to notice, but was this common to have so many revisions in the numbers across the board (GDP, PMI, etc) in the 1980's early 1990's? Seems to me that it is just getting worse in the last five or so years.
31 Jan, 04:20 PM
Great number contradicting Peter Schiff who said the US was in a great recession and the .1 percent contraction in GDP was proof of it.
The contraction in defense spending was more than likely because of the budget wrangling down in Washington and does anyone doubt the government can turn on the military spending spigot at the drop of a hat.
31 Jan, 01:53 PM
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