US: Chicago PMI to increase to 60.0 in September – Nomura

Analysts at Nomura expect the Chicago PMI to increase 1.1pp to 60.0 in September, reflecting continued business optimism.

Key Quotes

“Regional manufacturing surveys have been strong so far in September with both the Philly Fed and Empire State surveys showing modest improvement. Moreover, the re-weighted subcomponents of these surveys that correspond to the Chicago PMI showed healthy gains. Abstracting from the temporary impact of the active hurricane season, economic growth and the business outlook have both been healthy in September and we expect the Chicago PMI to reflect these trends during the month.”