Latest News

Economic Report: Chicago PMI jumps in May, beating expectations

0

The Chicago Business Barometer, also known as the Chicago PMI, rose to 60.3 in May from 56.4 in the prior month. 

Economists polled by the Wall Street Journal forecast a 55.9 reading. 

The index is produced by the ISM-Chicago with MNI. It is released to subscribers three minutes before its release to the public at 9:45 am Eastern.

The Chicago PMI is the last of the regional manufacturing indices before the national ISM data for May is released on Wednesday.

The prior business surveys showed a sharp slowdown in business activity. 

Economists surveyed by The Wall Street Journal have forecast a 54.5% reading for the closely-watched ISM manufacturing index in May after a 55.4% reading in the prior month. That was the lowest reading since July 2020.

Stocks
DJIA,
-1.13%

SPX,
-1.17%

opened sharply lower on Tuesday on fears that high inflation may persist. The yield on the 10-year Treasury note
TMUBMUSD10Y,
2.862%

rose to 2.86%.

Comments on March Case-Shiller and FHFA House Price Increases; New Record Monthly Increase

Previous article

Gold Fields Slumps After $7 Billion Purchase of Canadian Miner

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Latest News