Chicago PMI: Strength, but No Jobs

Posted on Monday, November 30, 2009

Thank you for using rssforward.com! This service has been made possible by all our customers. In order to provide a sustainable, best of the breed RSS to Email experience, we've chosen to keep this as a paid subscription service. If you are satisfied with your free trial, please sign-up today. Subscriptions without a plan would soon be removed. Thank you!

Details of this morning's Chicago PMI release per Briefing.com:

The Chicago PMI, which is compiled by the Institute of Supply Management - Chicago and Kingsbury International, Ltd., jumped to 56.1 from 54.2. The consensus expected the Chicago PMI to decline slightly to 53.3.
At 56.1, the index is at its highest point since August 2008 and showed an expansion in manufacturing for the second consecutive month.
The production rating, while still expanding at a strong rate, slowed as the index dropped from 63.9 to 57.6.
Beyond production, employment is still under heavy contraction but the rate slowed slightly as the index rose from 38.3 to 41.9.
Firms will also have to settle for lower profits as prices paid for supplies entered an expansion phase as the index rose from 48.6 to 52.6. Due to extreme slack in the labor market, firms will have a tough time passing the higher prices to the consumer.