The latest Chicago Purchasing Manager's Index, or the Chicago Business Barometer, rose to 63.1 in December from 61.8 in November, 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, rose to 63.1 in December, picking up again after last month’s decline. Inventories hit a four-year high as firms created buffers for longer lead times.

Among the main five indicators, Production and New Orders and were higher. Order Backlogs, Employment and Supplier Deliveries fell across the month. [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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