The Chicago Business Barometer, also known as the Chicago Purchasing Manager's Index, is similar to the national ISM Manufacturing indicator but at a regional level and is seen by many as an indicator of the larger US economy. It is a composite diffusion indicator, made up of production, new orders, order backlogs, employment, and supplier deliveries compiled through surveys. Values above 50.0 indicate expanding manufacturing activity.
The latest Chicago Purchasing Manager's Index, or the Chicago Business Barometer, jumped to 63.8 in January from 58.7 in December, which is in expansion territory. Values above 50.0 indicate expanding manufacturing activity.
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