United States Chicago PMI

Last Release

Oct 31, 2024

Actual

41.6

Units In

Points

46.6

Frequency

Monthly

Next Release

Nov 29, 2024

Time to Release

27 Days 14 Hours

Highest	Lowest	Average	Date Range	Source
81 Nov 1973	20.7 Jun 1980	54.51 Points	1967-2024	Institute for Supply Management

The Chicago PMI (ISM-Chicago Business Barometer) measures the performance of the manufacturing and non-manufacturing sector in the Chicago region. The Index is computed from five weighted raw indexes: Production (0.25), New Orders (0.35), Order Backlog (0.15), Employment (0.10), and Supplier Deliveries (0.15) and then seasonally adjusted to support month-to-month comparisons. A reading above 50 indicates an expansion; below 50 represents a contraction; while 50 indicates no change. Chicago PMI is released one day before the ISM Manufacturing Index.

Latest Updates

The Chicago Business Barometer, also known as the Chicago PMI, sank to 41.6 in October 2024 from 46.6 in September and well below market estimates of 47. The latest reading indicated that Chicago's economic activity contracted for the 11th successive month in October, and at a solid pace, marking the steepest decline since May. It is also 1.6 points below the year-to-date average. Production fell by 7.8 points, significantly below the year-to-date average of 44.8 and marking the lowest reading since April 2024. New orders dipped 4.6 points, making it the lowest level since May 2024. Also, employment fell by 5.5 points, slipping below the year-to-date average of 41.9, and inventories fell for the second consecutive month by 2.9 points. On the price front, prices Paid softened by 7.0 points after reaching their highest level since August 2023 in September.