Chicago PMI Exceeds Forecasts - TheStreet

Chicago PMI Exceeds Forecasts

The latest manufacturing numbers from the Midwest suggest economic expansion is still chugging along as 2009 draws to a close.
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) -- The Institute for Supply Management-Chicago business barometer rose to 60, from 56.1, in December.

The monthly increase in the Midwestern business barometer, also known as the Chicago PMI, was well ahead of a


economists' forecast of 55.

Typically, readings of 50 and above in PMI indexes are considered an indication of economic expansion.

The Chicago PMI has increased for over four consecutive months, after a decline between August and September.

The production-index component of the Chicago PMI experienced the biggest jump from November to December, from 57.6 to 65.8 -- its highest level in over a year. The-new order index was up slightly, but enough to also attain its highest level since May 2007.

-- Reported by Eric Rosenbaum in New York.

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