That was unexpected. The Chicago PMI roared higher as new orders hit 74.3 from 58.9 in a Halloween surprise. It’s the highest since 2004. The US dollar is catching a sugar rush from the data as economists scramble to try and figure out what would have caused such a surge in an month where the government shut down. MNI notes two reasons for the surge in orders: Half the gains stemmed from seasonal adjustments October is the time when pre-Chinese New Year orders hit There is reason for mild optimism on manufacturing but not this much optimism. (full story)