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Nomura economists noted Thursday's....>

US DATA REACT
US DATA REACT: Nomura economists noted Thursday's MNI Chicago Business Barometer
"rose 3.7pp to 67.6 in December, above expectations (Nomura: 64.5), up from 63.9
in November. Chicago PMI indicated strong momentum at the end of the year,
reaching the highest level since March 2011. The production index rose strongly
by 7.6pp to 77.7, suggesting robust expansion in output."
- They noted the "new orders index jumped 9.5pp to 72.7, pointing to increasing
demand. Inventories index, which rose 4.8pp to 64.5, suggests firms are
increasing the amount of stocks. The survey reported that firms are shoring up
the level of stock "to support stretched lead times and in preparation for
product launches scheduled for the new year.""
- Nomura noted MNI Chicago "employment index fell 1.8pp, but remained at an
elevated 55.3, consistent with our expectation that nonfarm payroll employment
likely increased at a healthy pace in December." (December employment report is
out 8:30 am ET Friday, Jan 5.)

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