Chicago PMI Slid in February

The latest Chicago Purchasing Manager's Index, or the Chicago Business Barometer, fell to 56.3 in February from 65.2 in December, which is still in expansion territory. Values above 50.0 indicate expanding manufacturing activity.

Here is an excerpt from the press release:

The Chicago Business BarometerTM, produced with MNI, fell 8.9 points to 56.3 in February, weakening for the first time since November 2021. New Orders slowed, with almost a quarter of firms surveyed seeing a decline. [Source]

Let's take a look at the Chicago PMI since its inception.

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Here's a closer look at the indicator since 2000.

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Let's compare the Chicago PMI with the more popular national ISM Manufacturing Index. Both indices clearly follow one another with the ISM falling slightly lower on average. Note the ISM Manufacturing indicator is through the previous month.

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