https://www.marketwatch.com/story/ec...MW_latest_news
Chicago PMI shows region’s economy remains hot as 2018 winds down
Published: Dec 28, 2018 10:12 a.m. ET
Chicago PMI dips to 65.4 in December from 66.4, but still strong
By
Jeffry
Bartash
Reporter
Getty Images
The economy in the Chicago region grew a bit slower in December, but the region is still expanding rapidly.
A survey of business conditions in the Chicago area that’s often viewed as a signpost for the broader U.S. economy showed strong, if slightly softer, growth in the final month of 2018.
The MNI Chicago business barometer slipped to 65.4 points in December from an 11-month high of 66.4 in the prior month. That easily beat Wall Street’s expectation for a reading of 62.4, according to Econoday.
Any reading over 50 points to an improving economy and numbers over 60 are considered exceptional.
What happened: Companies continued to produce goods and services at a rapid pace and back orders were the highest since last July, suggesting no deterioration in customer demand.
The Chicago survey gives a good idea of what’s happening with manufacturers and other large U.S. companies, including many with expansive global operations. It is viewed as a leading indicator of how well the U.S. and even global economies are performing.
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