Friday We'll Get Some Big Time Data On What Really Happened To The Economy During The Shutdown
It's "PMI Day", when reports come out for countries around the world about the health of their manufacturing sectors for October.
What happened to the US
On Thursday we got a weird clue. The Chicago PMI report, which measures the strength of the manufacturing sector in the Chicago region came in ridiculously strong.
The surge was the fastest pace in over 30 years, with strong gains in new orders and total output.
Tomorrow we get the national ISM report. Analysts expect a reading of 55.0, down a bit from 56.2.
For some further context on this and today's strong Chicago number, here's Mike O'Rourke of JonesTrading:
The larger question is how much faith investors should have in this report. As we noted earlier, it seems too good to believe especially considering the
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