Remember how I said that the analysts were looking for a contraction to a level of 62.0%? Yeah, well, we did a little better than that. the business barometer hit a seasonally adjusted 68.6%, marking a 610 bps increase. Production has hit the highest levels since October 2004, and employment hit the highest level in more than 5 years.
Sure, it's just Chicago. But the Chicago PMI is seen as a barometer for the whole nation. Because that's the Chicago way!