Initial Claims for Unemployment and the Chicago Purchasing Managers index were released today. Unemployment claims dropped to their lowest level since July of 2008—two months before the Lehman collapse. And the Chicago Purchasing Managers Index (PMI) reached its highest level in over 20 years. Strength in the Chicago PMI was broad based. Employment was up, prices paid were up, as were the important categories of production, new orders, and inventories. Both indicators point to accelerating economic growth.
Jeremy Jones, CFA
Latest posts by Jeremy Jones, CFA (see all)
- Where’s the Value in Tech? - April 19, 2018
- Red Alert! $164 Trillion in Global Borrowing Exceeds Pre-Financial Crisis - April 18, 2018
- This Chart Has a Concerning Look - April 17, 2018