The Chicago Purchasing Managers’ Index surged 13.5 points in May to a four-year high of 62.7, signaling an expansion in regional business activity. This marks the largest monthly increase since 2020 and was significantly higher than the projected 50.6. The Chicago PMI assesses the business conditions and the economic health of the manufacturing sector in the Chicago region. A value above 50.0 indicates expanding manufacturing activity, while a value below 50.0 indicates contracting manufacturing activity. Weak readings have often preceded broader economic downturns. Looking at the index's historical performance, the ... (full story)