Chicago PMI Oct 56.2 vs 49.4 exp

Latest data now out.  Livesquawk report of social media having the heads up prior

• 48.7 prev

Highest reading since Jan'

What was it exactly that Chicago produces again to justify this pop?

Ahh!


A surge in inventories was the biggest driver...

INVENTORIES INCREASE SHARPLY TO ABOVE 60

Stocks of finished goods rose to above 60 as some companies intentionally built stocks as demand increased and in an effort to be prepared for the new cold weather selling season.

Concerns now rest with being over-inventoried as winter is predicted to be mild, purchasers said.