The Institute for Supply Management reported its business barometer for Chicago-area manufacturing, the Chicago PMI, rose to a reading of 60.4 in September, seasonally adjusted, from 56.7 in August, surpassing economists’ expectations for the index to remain roughly flat month to month.
The index reading for new orders rose to 61.4 from 55 in September, while inventories inched up to 49.5 from 46.5. Employment in the Chicago area, however, dipped to 53.4 from a prior 55.5.
September must have been a huge jump as the above is a three month rolling average and included the downturn in August. It will be interesting to see how this plays out in the National ISM figure.
Source: ISM Chicago