Everything is awesome again in Chicago apparently...
Against expectations of a modest drop from 58.9 to 58.7, MNI's Chicago Business Barometer exploded higher to 65.2 in September...
This is well above the highest analyst expectation and 5 standard deviations above expectations...
Under the hood, it's also awesome...
- Prices paid rose at a faster pace, signaling expansion
- New orders rose at a faster pace, signaling expansion
- Employment rose and the direction reversed, signaling expansion
- Inventories rose and the direction reversed, signaling expansion
- Supplier deliveries rose at a faster pace, signaling expansion
- Production rose at a faster pace, signaling expansion
- Order backlogs rose at a faster pace, signaling expansion
- Business activity has been positive for 12 months over the past year.
- Number of components rising vs last month: 7