Chicago PMI reports accelerating new orders showing a strong recovery is in the works

This report shows something very different from the housing market. This shows a strong and even accelerating recovery, built upon strong demand for manufactured goods and services.

New orders rose to 67.2 in November vs October's 65.0 to extend what is an extremely strong trend. Production, at 71.3, is humming and is raising demand for employment which is at 56.3 vs October's also strong 54.6. Strong production is keeping down unfilled orders, which at a sub-50 reading of 48.9 contracted slightly in the month, and is also keeping down inventories which at 48.4 also contracted slightly.

The headline index, which is a composite of key components, held above 60 for a third month in a row, coming in at 62.5.

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