Connect With PPD
Follow Us:
Economy

MNI Chicago Business Barometer (PMI) Soars to 66.4 in November

New Orders, Order Backlogs Hit 4 1/2-Year High; Delivery Times 14 1/2 Years

SUV parts are fabricated in the stamping facility at the General Motors Assembly Plant on June 9, 2015. (Photo: Reuters)

The MNI Chicago Business Barometer (PMI) soared 8 points to an 11-month high of 66.4 in November, crushing the consensus forecast. The consensus was looking for a reading around 58.0 and forecasts ranged from 58.0 to 59.2.

“The MNI Chicago Business Barometer clipped a run of three consecutive declines in emphatic style in November, boosted primarily by resurgent orders – stronger than typically seen at this time of year and enough to push the Barometer to its best level since December,” said Jamie Satchi, Economist at MNI Indicators.

Business activity post its strongest reading this year in November, ending a 3-month losing streak. Gains were broad across all 5 of the Chicago Business Barometer’s subcomponent.

“However, many firms reported seeing the effects of higher China tariffs on their invoices for the first time, and voiced concern that business could be stifled going forward,” Mr. Satchi added.

This month’s result marks 33 consecutive months of growth, or a reading above 50. The headline index has registered above-60 for all but three of the past 15 months.

[su_document url=”https://www.peoplespunditdaily.com/wp-content/uploads/2018/11/mni-chicago-press-release-2018-11.pdf” width=”720″ height=”860″]

READ FULL STORY

SubscribeSign In
PPD Business Staff

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Share
Published by
PPD Business Staff

Recent Posts

Media’s Worst Russian Collusion Sins May Soon Be Repeated

The most damning journalistic sin committed by the media during the era of Russia collusion…

1 year ago

Study: Mask-Mandates and Use Not Associated With Lower Covid-19 Case Growth

The first ecological study finds mask mandates were not effective at slowing the spread of…

3 years ago

Barnes and Baris on Big Tech’s Arbitrary Social Media Bans

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…

3 years ago

Barnes and Baris on Why America First Stands With Israel

On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…

3 years ago

Personal Income Fell Significantly in February, Consumer Spending Weaker than Expected

Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…

4 years ago

Study: Infection, Vaccination Protects Against Covid-19 Variants

Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…

4 years ago

This website uses cookies.