Chicago PMI Gains to 59.4 in January from 58.8 in December

The Chicago Purchasing Managers' Business Barometer rose to 59.4 in January from 58.8 in December, the National Association of Purchasing Management-Chicago said Friday.

Last week, the annual benchmark revision resulted in the December number being lifted to 58.8 from the 58.3 first reported,

The data is compiled on a seasonally adjusted basis. An index reading below 50 signals a slowing economy, while a level above 50 suggests expansion.

Economists polled by Thomson Reuters predicted a 57.8 reading for the index.

"The survey has signposted a significant improvement in the jobs market over the past year," the group said in a release. "The start of 2015 saw the Employment Indicator rise sharply on the month to the highest since November 2013 and well above the levels seen in January 2014."

For reprint and licensing requests for this article, click here.
MORE FROM BOND BUYER