Wednesday, November 30, 2011

Very positive Chicago PMI report

Another bright spot on the economic front was the Chicago PMI report for November which showed the Chicago Business Barometer rebounding to a 7-month high, production strengthened, new orders surged to a 6-month high, and order backlogs rose to the highest level since July. And all of these readings are above the 50 breakeven level, with new orders up at the 70.2 level. Granted, you can't magically apply this one report to the entire country, but it does go a fair distance towards disproving the notion that "the economy is in the toilet."

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