Chicago Activity Index Gets Boost From Employment

Employment gave a sizable boost to the national activity index in October which rose to a higher-than-expected 0.24 vs Econoday's consensus for 0.20 and against a revised 0.14 in September.

Employment-related indicators contributed 0.19 to October's index vs only 0.05 in September as payroll growth more than doubled to 250,000.

The three other components were mixed to softer with sales, orders & inventories unchanged at a 0.04 contribution and with production at 0.06 vs 0.09 in September. The contribution from personal consumption and housing ticked down to minus 0.05 in October from minus 0.04 as housing indicators weakened slightly.