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One more on Chicago PMI: With increases in January and now February, it marks the first...

One more on Chicago PMI: With increases in January and now February, it marks the first consecutive gains for the index in 2 years. At 60.2, New Orders - maybe the most leading component of the PMI - rises to an 11-month high of 60.2. "Orders were down for January ... by the end of (the month) we became inundated with new orders ... We will also be hiring new welders to assist with capacity," says one respondent. (full report)
Comments (3)
  • june1234
    , contributor
    Comments (3203) | Send Message
     
    all 7 components of the Chicago PMI declined yr over yr.
    28 Feb 2013, 10:07 AM Reply Like
  • SA Editor Stephen Alpher
    , contributor
    Comments (553) | Send Message
     
    It's a diffusion index. I don't think Y/Y comparisons are relevant.
    28 Feb 2013, 10:14 AM Reply Like
  • june1234
    , contributor
    Comments (3203) | Send Message
     
    Only not relevant when the data doesn't fit the recovery message otherwise it is .a chart of manufacturing going back 3 yrs shows it in a downtrend in this recovery
    1 Mar 2013, 07:35 AM Reply Like
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