Chicago PMI Jumps

Things are looking good in the midwest.

The Chicago Purchasing Managers Index jumped to 59.4 in January from 58.8 in December.

This was much higher than the 57.5 expected by economists.

“Business activity was led by a modest advance in New Orders while Order Backlogs was the second largest contributor to the Barometer’s faster expansion,” MNI Chicago said. “Production also increased between December and January following two consecutive falls.”

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at