Chicago region grows faster in December and points to still-vigorous U.S. economy

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The economy of the greater Chicago area grew slightly faster in December despite new strains caused by the Omicron strain of the coronavirus.

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The Chicago Business Barometer, also known as the Chicago PMI, rose from 61.8 in November to 63.1 this month. Economists surveyed by the Wall Street Journal have estimated a reading of 62.

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The economy of the region is still quite strong. Any reading growth above 50 and a number above 60 is considered exceptional.

The index is viewed as a good weathervane for US manufacturing and the broader US economy as a diverse mix of the businesses surveyed.

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The survey has been prepared by ISM-Chicago along with MNI. It is released to the public at 9:45 a.m. Eastern three minutes before its release to subscribers.

The Chicago PMI is the last of the regional manufacturing indices ahead of the release of national ISM data for November on Tuesday. The ISM report has also been very strong in the last one year.

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Chicago remained marginally higher after the PMI report.

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