Thursday, November 30, 2017

Earlier: Chicago PMI "Softens" in November

by Bill McBride on 11/30/2017 02:28:00 PM

Earlier from the Chicago PMI: Chicago Business Barometer Softens to 63.9 in November

The MNI Chicago Business Barometer eased to 63.9 in November, down from 66.2 in October, to stand at the lowest level in three months.

Despite receding from October’s six-and-a-half year high, optimism among businesses recorded the fourth highest outturn this year. The Barometer has expanded for 21 straight months and is poised to see out 2017 in solid fashion.
...
“Despite November’s fall, the MNI Chicago Business Barometer remains on track to deliver the first full year of expansion in three years. Firms seem to have navigated through the worst of the bad weather conditions in recent months, though supplier deliveries rising to a thirteen-year high and persistent, high input costs suggests the effects are yet to fully dissipate away,” said Jamie Satchi, Economist at MNI Indicators.
emphasis added
This was close to the consensus forecast of 64.0, and still a solid reading.