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Rising Chicago PMI Indicates Positive Economic Health
Manufacturing Sector Shows Steady Growth
Key Findings:
The Chicago Purchasing Managers Index (PMI), a measure of economic activity in the manufacturing sector, has recently shown positive indicators, suggesting a healthy and growing economy in the Chicago region.
The PMI is a composite index that takes into account several key indicators, including production, new orders, supplier deliveries, inventories, and employment. A reading above 50 indicates expansion, while a reading below 50 suggests contraction.
In June 2016, the PMI reached 532, indicating a significant expansion in the manufacturing sector. This marks the 85th consecutive month of economic expansion for the region.
Key indicators within the PMI also show positive trends. Production and new orders have increased, while supplier deliveries have remained stable. Employment levels have also remained steady, indicating a strong labor market.
The positive PMI readings suggest that the manufacturing sector in the Chicago region is continuing to grow and contribute to the overall economic health of the area.
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