Chicago-area outlook sees marginal improvement in August
The Chicago purchasing managers' index – which offers a glimpse into business conditions in Illinois, Indiana and Michigan – has picked up in August.
Rising from 52.3 to 53, that's just below economist estimates of an improvement to 53.2.
Any number above 50 implies expansion, so order books in the region can now be seen as expanding at a faster rate.
Yes the Chi PMI employment pulled back slightly but there was a big jump in new orders to 57.2. Chi PMi has highest correl with natl ISM.
— Dan Greenhaus (@DanBTIG) August 30, 2013