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Chicago PMI Explodes Higher, Beats By 5 Standard Deviations

Courtesy of ZeroHedge. View original post here.

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

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