The Institute for Supply Management Chicago has released a very positive report on business activity for November 2010, almost too positive versus the numbers. Their business activity index increased to 62.5, up from 60.6 in October. Below is their crappy graph, with the start date in 2000. The vertical line indicates 2010 and the middle line is 50. Above 50 is expansion and good, below 50 is contraction and bad.
Update: It seems we have a bait and switch. the Chicago ISM has been revised down.
Dow Jones reports that the Chicago Institute for Supply Management revised down the Chicago PMI to 58.7 on Thursday from the announced reading of 60.0 on Wednesday. The most significant change was to the employment index that now shows contraction at 47.6 compared to the announced 51.2.
The Chicago PMI was released December 30th, with all of the headlines ablaze that the business activity index hit 60%, the highest since 2006.
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