EconomyStockU.S. Midwest manufacturing surged in September: survey

1 year ago114 min
imageEconomic Indicators7 hours ago (Sep 30, 2020 01:00PM ET)

WASHINGTON (Reuters) – U.S. Midwest manufacturing unexpectedly surged in September, with new orders and production recovering strongly from coronavirus-related shutdowns, a regional purchasing managers’ survey showed on Wednesday.

The Chicago Business Barometer’s headline index jumped to 62.4 in September, its highest level since December of 2018 and well above the 52 forecast by economists in a Reuters poll. A reading of over 50 means expansion; below 50 means contraction.

The results of the survey of purchasing managers in the greater Chicago area was released nearly two hours before its usual time of 9:45 a.m. Eastern (1345 GMT).

Treasuries fell after the report and on news of potential progress among U.S. lawmakers toward a new fiscal relief package. The yield on the benchmark 10-year note rose to 0.686%, its highest in a week.

ISM-Chicago, an association of purchasing managers, and MNI Market News together produce the data and normally release it a few minutes early to paid subscribers. They did not immediately respond to a Reuters request for information about the timing of Wednesday’s release.

U.S. Midwest manufacturing surged in September: survey

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Leave a Reply

Your email address will not be published. Required fields are marked *