The pace of business expansion in and around Chicago intensified this month, according to the latest Chicago Purchasing Managers index.
The index reached 62.4% this month, up from 61.9% in December.
The average forecast of economists called for a reading of 59. Readings over 50% indicate that more than half of respondents said business is better or the same. The barometer has been above 50% for 21 straight months.
All areas showed expansion, including employment, at 52.8%. The index for production was at 68.3% and for new orders, at 65.8%. Prices paid remained at an elevated 76.5%.
