Chicago PMI Jumps to 7-Month High

The latest Chicago Purchasing Manager's Index (Chicago Business Barometer) jumped to 47.4 in June from 35.4 in May. This is the first monthly increase since November of last year and largest monthly increase since July 2020. The latest reading is better than the 39.7 forecast but keeps the index in contraction territory for a seventh consecutive month.

Background on Chicago PMI

The Chicago PMI assess the business conditions and the economic health of the manufacturing sector in the Chicago region. A value above 50.0 indicate expanding manufacturing activity, while a value below 50.0 indicate contracting manufacturing activity.