Friday, June 30, 2017

Chicago PMI Increases in June, Highest in Three Years

by Bill McBride on 6/30/2017 10:05:00 AM

From the Chicago PMI: June Chicago Business Barometer at 65.7 vs 59.4 in May

The MNI Chicago Business Barometer rose to 65.7 in June from 59.4 in May, the highest level in over three years.
...
“June’s MNI Chicago Business Barometer Survey is a testament to firms’ expectations of a busy summer. With Production and New Orders touching levels not seen in three years, rising pressure on backlogs and delivery times has led to higher optimism among firms both in general business conditions and the local economy,” said Shaily Mittal, Senior Economist at MNI Indicators.
emphasis added
This was well above the consensus forecast.