The MNI Chicago Business Barometer for the US rose to 64.7 in February of 2019 from 56.7 in January, beating market expectations of 57. It is the highest reading since December of 2017 as four of the five Barometer components increased. The pick-up in demand contributed the most to the Barometer’s rise. New orders rose by 15.2 points, the most since January 2016; production was up 8.5 points to a fresh six-month high; and order backlogs were up by 5.6 points. On the other hand, supplier delivery times hit the lowest level since June of 2017, declining for the fourth consecutive month. Chicago Pmi in the United States averaged 54.83 Index Points from 1967 until 2019, reaching an all time high of 78.60 Index Points in January of 1973 and a record low of 21.20 Index Points in June of 1980.
Chicago Pmi in the United States is expected to be 51.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Chicago Pmi in the United States to stand at 51.00 in 12 months time. In the long-term, the United States Chicago PMI is projected to trend around 56.00 Index Points in 2020, according to our econometric models.