2018 Economic Calendar
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Chicago PMI  
Released On 9/28/2018 9:45:00 AM For Sep, 2018
PriorConsensusConsensus RangeActual
Business Barometer Index - Level63.6 62.3 59.0  to 64.5 60.4 

Highlights
General economic growth in Chicago slowed in September based on the Chicago PMI which eased to a still very strong 60.4 from 63.6 in August and 65.5 in July. New orders slowed to a 5-month low and production to a 6-month low. Hiring also moderated reflecting in part what the report says is lack of qualified candidates.

A build in backlogs is a positive while inventories rose on continued reports of pre-buying tied to concerns of shortages. Supplier deliveries lengthened with respondents reporting trucking delays tied indirectly to Hurricane Florence that hit the Carolinas at mid month. Input costs remain generally elevated.

When taking the last three months together, the index averaged 63.2 which is the best quarter so far this year and which puts September's easing in context.

Consensus Outlook
Steady strength at a very high level is the call for the Chicago PMI with the September consensus at 62.3 vs 63.6 in an August report that showed welcome easing in both delivery and employment pressures. Input costs, however, remained highly elevated with 60 percent of the sample reporting pass-through to customers.

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 indicate an expanding business sector.  Why Investors Care
 
[Chart]
The ISM-Chicago survey, known as the Chicago PMI, is posted at month-end for the current month and is often used, though it has a non-manufacturing component, as a barometer for the ISM manufacturing index which is released the next business day.
Data Source: Haver Analytics
 
 

2018 Release Schedule
Released On: 1/312/283/294/305/316/297/318/319/2810/3111/30
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