category of money supply

M3
Definition: In the category of money supply that includes M2 in addition to all large time deposits, institutional money market funds, short-term repurchase agreements and certain other large liquid assets.

National Association of Purchasing Managers (NAPM Chicago) Definition: The Chicago PMI (officially known as the Business Barometer) is a monthly composite index based on surveys of more than 200 Chicago purchasing managers regarding the manufacturing industry. The answers to questions are limited to three options: slower, faster, and the same. As such, the index will not capture if the component is on the rise, but much slower rate or vice versa. The index is composed of seven similarly constructed indexes including: new orders, production, supplier delivery times, backlogs, inventories, prices paid and employment. New orders and orders backlog indices indicate future manufacturing activity. It signals a factory-sector expansion when it is above 50 and contraction when below it. The index is seasonally adjusted for the effects of variations within the year, differences due to holidays and institutional change. Because it is a poll, it is often influenced by the respondents ¡| perception of current events, as opposed to actual hard data. Also, it does not capture technological and production changes, which allow production to expand, and employment contracts. Since the Chicago PMI was released the day before the ISM, it is seen to provide important ISM report, which itself is a good leading indicator of overall economic activity. It often move markets