The Chicago Purchasing Managers' Index registers its lowest reading in 6 months.

The data released on Monday indicated that the Chicago Purchasing Managers' Index (PMI) recorded a very negative reading, as the indicator's reading was worse than market expectations for the current month of December. According to the data, the Chicago PMI recorded a reading of 36.9 points in December, marking the lowest reading for the index in six months, and it was worse than expectations that estimated the index at 42.7 points. The previous reading for the Chicago Purchasing Managers' Index was 40.2 points at the end of November. This index measures the level of activity based on a survey of purchasing managers in the state of Chicago. The survey includes around 200 purchasing managers in Chicago, who are asked to assess the state of business conditions, including employment, production, new orders, prices, supply, and inventories. The survey includes both manufacturing and non-manufacturing companies, which is why it is not directly compared only to manufacturing surveys. A reading above the 50 level indicates an expansion in the business sector. Although the survey may seem local, it reflects the overall economic activity in the state of Chicago, and many view it as an indicator representing the economy in general.