The Chicago Purchasing Managers’ Business Barometer rose to 60.0 in December from 56.1 in November, the National Association of Purchasing Management-Chicago said yesterday.
The data is compiled on a seasonally adjusted basis. An purchasing managers index reading below 50 signals a slowing economy, while a PMI level above 50 suggests expansion.
Economists polled by Thomson Reuters predicted a 55.0 reading.
The production index rose to 65.8 from 57.6 in the prior survey, the new orders index grew to 63.5 from 62.8, the order backlogs index increased to 53.0 from 46.5, and inventories rose to 39.4 from 34.9. The employment index jumped to 51.2 from 41.9 and the supplier deliveries index was at 56.2, off from 57.4 last month. The prices paid index increased to 54.9 from 52.6.