Chicago PMI (Chicago purchasing managers' index) is also referred to as The Business Barometer and gauges factory health in the upper Midwest. The index signals factory-sector expansion when it is above 50 and a contraction when it is below.
The Chicago PMI is produced by the National Association of Purchasing Management.
The report is released at 9:45AM ET at the end of each month. The data is for the current month.
The report is considered a market-moving "first look" at economic activity in the USA.