Economic Report: Chicago PMI jumps to near three-year high in September

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A worker builds cars on the assembly line at Ford’s Chicago Assembly plant.

The numbers: The Chicago purchasing managers index rose to 65.2 in September from 58.9 in August, on a scale where any reading above 50 indicates improving conditions. That’s the highest level in three months and close to June’s reading of 65.7, the highest level since 2011. The increase was well above the consensus.

What happened: In September, 4 out of the 5 components improved, with the gains concentrated in demand, backlogs and employment. The recent barrage of storms was said to have weighed on delivery times.

Big picture: The Chicago PMI is the last of the major regional manufacturing gauges before the national Institute for Supply Management manufacturing report is released.

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