Courtesy of John Nyaradi.
Business activity reports from Chicago and Texas are mixed this morning
The October Dallas Federal Reserve Texas Manufacturing Index recorded a substantial gain to +2.3 from last month’s -14.4, indicating improving business and manufacturing activity (AMEX:DIA) in the region. This was the first positive reading in six months with employment also reaching a six month high while new orders declined.
Farther north, the Chicago PMI declined to 58.4 from last month’s 60.4, indicating slower business activity for companies (AMEX:SPY) in the region but still remained above the critical 50 level which indicates the borderline between expansion and contraction.
Tomorrow brings the widely watched national ISM report.
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