Wednesday, May 31, 2017

Updated: Chicago PMI Increases in May

by Bill McBride on 5/31/2017 11:15:00 AM

Earlier, the Chicago PMI was reported at 55.2. That has now been corrected to 59.4. This was above the consensus forecast.

Here is the updated report on the Chicago PMI: May Chicago Business Barometer at 59.4 vs 58.3 in April

The MNI Chicago Business Barometer increased to 59.4 in May from 58.3 in April, the highest level since November 2014.
...
“May’s rise in the MNI Chicago Business Barometer provides a further boost to the business environment. Rising pressure on backlogs and delivery times accompanied with higher production levels suggests firms’ expectations of a busy summer,” said Shaily Mittal, senior economist at MNI Indicators.
emphasis added