Chicago PMI Levels Off, Output Hits 11-Month High
The MNI Chicago Business Barometer eased to 65.4 in December, down 1.0 point from November’s 66.4, the latest survey showed Friday.
Three out of the five Barometer sub-components lost ground on the month, but solid gains in Production and Order Backlogs helped the headline index maintain most of November’s eight-point rise.
Recording just the fourth year-over-year fall this year, the Barometer continues to signal a healthy business environment, with the 34th consecutive reading above the neutral-50 mark.
Over Q4 as a whole, the headline index averaged 63.4, the best calendar quarter outturn this year.
Contributing to December’s moderation was a decline in demand, easing somewhat after surging last month.