Definition: The Chicago Purchasing Managers' Index is derived from a survey of purchasing managers in the Chicago area regarding their acquisition of goods and services. Investors refer to this indicator, since the economy of the Chicago area tends to be reflective of the US economy as a whole.
Description: The Chicago PMI gauges manufacturing conditions in the city’s private sector. A PMI reading above 50 is said to signal growth in the US economy, whereas a reading below 50 signals economic contraction.
Influence: Chicago PMI readings above 50 indicate industrial growth and tend to boost the US dollar.
Market Impact: Medium
Released: On the last business day of every month at 15:00 GMT
Source: The Purchasing Managers Association of Chicago (USA)