ISM Chicago PMI advances to 11-month high at 66.4 vs 58 expected

Eren Sengezer FXStreet

"The MNI Chicago Business Barometer surged to an 11-month high of 66.4 in November, up 8.0 points from October’s 58.4," the Chicago PMI reported on Friday.

Key takeaways from the press release

Business activity recorded its most impressive performance so far this year in November, ending a three-month run of declines.
November saw New Orders jump to the highest level since May 2014.
Firms reported labor struggles continuing to restrain the ability to tackle backlogs over what is considered the busiest time of the year for many firms.
The Employment indicator strengthened further in November, hitting a three-month high and moving further clear of the neutral-50 mark.
Prices Paid, despite moderating in November, remained locked in a historically high range.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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