Chicago PMI Has Biggest Jump in 30 Years

I usually don’t write about the Chicago PMI, but today’s report had the largest jump in 30 years. The stat measures economic activity in the Chicago region.

Chicago PMI, a gauge of manufacturing in the Midwest, surged to 65.9 in October, from 55.7.

This is the highest level since March 2011, and the biggest monthly increase in over 30 years.

This crushed expectations for 55.

While the stock market is slightly positive, the bond market is selling off. The 10-year bond yield had been at a four-month low, but the yield has creeped up about 10 basis points since yesterday. It’s not a lot, but the PMI report is about the only data point showing strong economic activity.

Posted by on October 31st, 2013 at 1:28 pm

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