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TFC Commodity Trading Forum

Nov. Chicago PMI accelerates to seven-month high

Nov. Chicago PMI accelerates to seven-month high (by Steve Goldstein)

WASHINGTON (MarketWatch) -- The November reading of the Chicago PMI rose to 62.6% from 58.4% in October, which is a seven-month high and the 26th straight month over the 50% level that indicates expansion. Economists for MarketWatch had expected the gauge to stay at 58.4%. Gauges for production, new orders and order backlogs all accelerated. One panelist said, "From observation from our company it feels as if the market is making a comeback."