Chicago PMI, a gauge of manufacturing in the Midwest, surged to 65.9 in October, from 55.7.
This is the highest level since March 2011, and the biggest monthly increase in over 30 years.
This crushed expectations for 55. READ
The Chicago PMI roared higher as new orders hit 74.3 from 58.9 in a Halloween surprise. It’s the highest since 2004.
Back Logs & New Orders: LINK
Order backlog rose to 61.0 from 46.7 which twinned with new orders means that businesses may look to new employees to clear backlogs or to increase capacity.
Santelli: The WOW! factor of the Chicago PMI