Thursday, December 30, 2010

Chicago Outlook: Biggest Jump in 22 Years

Marketwatch details the spectacular report coming out of Chicago:

A barometer of manufacturing conditions in the Chicago region jumped in December to its best level in more than 22 years.

The Chicago PMI rose to 68.6 in December from 62.5 in November, marking the 15th straight month that the gauge was over the 50 level indicating economic expansion and well above the 61 reading that economists polled by MarketWatch expected for December.

To put December’s report into context, the median showing of the Chicago report between 1970 and 2009 was 55.1.

The survey of purchasing managers showed the highest production levels since October 2004, new orders at their highest levels since 2005, the best employment levels in more than five years and the highest prices paid since July 2008.

Source: ISM