by Calculated Risk on 12/28/2018 10:29:00 AM

From the Chicago PMI: Chicago Business Barometer Moderates to 65.4 in December

The MNI Chicago Business Barometer eased to 65.4 in December, down 1.0 point from November’s 66.4.
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After two consecutive months of higher readings, the Employment indicator receded in December, hitting a three-month low, although did remain above the neutral-50 mark.
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“The MNI Chicago Business Barometer saw 2018 out in good health, assisted by a firm uptick in Production, cementing the best calendar quarter outturn in a year,” said Jai Lakhani, Economist at MNI Indicators.

“Encouragingly, inflationary pressures subsided for a fifth consecutive month and should this continue, it will ease the burden on firms‘ productive capacities. Still, concerns over tariffs continue to linger in the background and stir uncertainty,” he added.
emphasis added

This was above the consensus forecast of 62.4.