2012 Economic Calendar
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U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar

Chicago PMI
Released On 2/29/2012 9:45:00 AM For Feb, 2012
PriorConsensusConsensus RangeActual
Business Barometer Index - Level60.2 61.0 58.0  to 62.5 64.0 

Highlights
Orders are piling up in the Chicago area in what promises to feed substantial activity in the months ahead. New orders rose 5.6 points to 69.2 in what is substantial month-to-month acceleration to an unusually high rate of growth. New orders in this report have been strong throughout the recovery and especially over the last six months. Orders are moving into backlog which rose more than five points to a plus 50 reading of 53.6 that indicates a tangible monthly build.

Needing to fill these orders, businesses in Chicago are hiring with the employment index up a very strong 9.5 points to 64.2. Production is up four points in the month to 67.8 with the headline composite index up nearly four points to 64.0. The Chicago report has been perhaps the very strongest of any regional report this recovery with today's results hinting at strength for national manufacturing and non-manufacturing reports from the ISM. The Dow is moving to opening highs following the results.

Market Consensus before announcement
The Chicago PMI for January eased 2 points to 60.2, well over 50 to indicate strong growth though slightly below December. The new orders index told the same story, at 63.6 versus December's 67.1.

Definition
The Institute For Supply Management - Chicago compiles a survey and a composite diffusion index of business conditions in the Chicago area. Since October 2011, the survey has been conducted by Market News International. Manufacturing and non-manufacturing firms both are surveyed. Hence, it is not directly comparable to pure manufacturing surveys. Readings above 50 percent indicate an expanding business sector.  Why Investors Care
 
[Chart]
The ISM-Chicago survey (traditionally and informally called the Chicago PMI) registers manufacturing and non- manufacturing activity in the Chicago region. Investors care about this indicator because the Chicago region somewhat mirrors the nation in its distribution of manufacturing and non-manufacturing activity. Many like to compare the Chicago-PMI with following business day's ISM manufacturing index but they do not always move in tandem since the national ISM is only for manufacturing.
Data Source: Haver Analytics
 

2012 Release Schedule
Released On: 1/312/293/304/305/316/297/318/319/2810/3111/3012/28
Release For: JanFebMarAprMayJunJulAugSepOctNovDec
 


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