There was a rumor going around of a reading in the ‘low 60s’ ahead of the release. Later the 63 reading was leaking out.
What a gong show. At this pace, the Fed statement is going to leak early.
- Highest reading since October
- Prior 55.9
- New orders 68.7 vs 58.8 prior*
- Employment 57.8 vs 50.0 prior*
- Prices paid 55.2 vs 55.7 prior*
*I’m having a tough time confirming the sub-components because MNI doesn’t have them, for some reason.
Expansion linked to improvements in weather and other markets along with an increase in consumer demand, larger ordering volumes, positive effects from recent promotions and concerted efforts by some to either catch up on or reduce backlogs after weather related delays.