Chicago factory gauge makes surprise rise in June

A Chicago-area manufacturing gauge unexpectedly accelerated in June, according to data released Thursday, confounding expectations after other regional polls slowed.

ISM-Chicago said the Chicago business barometer, which also is called the Chicago PMI, rose to a 61.1% reading from a 56.6% level in May to break a three-month losing run.

Economists were surprised by the report, as a MarketWatch poll braced for a 55.0% reading. The advance was all the more surprising since regional manufacturing data out of Philadelphia and New York slowed, and the Chicago area is more exposed to the automobile sector, where production has been impacted by parts shortages stemming from Japan.

Read Full Article from MarketWatch

- Posted: 2011-06-30 12:57:55

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