Economic Report: Chicago PMI rebounds in December, remains in contraction territory


The Chicago Business Barometer, also known as the Chicago PMI, rebounded to 44.9 in December from 37.2 in the prior month, which was the lowest reading since the 2007/2008 financial crisis. 

Economists polled by the Wall Street Journal forecast a 40.5 reading. 

Readings below 50 indicate contraction territory.

The manufacturing sector is suffering from slow demand due to the weak global economy and has worked through the backlog of unfilled orders from the pandemic, said Richard Moody, chief economist at Regions Financial Corp.

“The next several months will be challenging for the manufacturing sector,” Moody wrote in a note to clients earlier this month.

The index is produced by the ISM-Chicago with MNI. It is released to subscribers three minutes before its release to the public at 9:45 am Eastern.

The Chicago PMI is the last of the regional manufacturing indices before the national ISM data for September is released on Wednesday.

Economists expect the ISM factory index to slip to 48.5 from a 30-month low reading of 49 in November.

Weekend Sip: Forget Champagne and Prosecco: Here’s why you should be drinking Spanish Cava to toast the new year

Previous article

: Donald Trump paid $0 in taxes in 2020. He’s not alone: 60% of households also paid no federal income tax that year, but for very different reasons.

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News