ISM Chicago PMI

Data PMI

Source: Institute of Supply Management
Source Link: https://chicago.ismworld.org/
Frequency: Monthly
Next Release(s): January 30th, 2026 9:45 AM

Latest Updates

The ISM Chicago Business Barometer jumped 7.2 pts to 43.5 in December. The indicator has been below 50 since November 2023.
The Chicago Business Barometer dropped -7.5 pts to 36.3 in November 2025, the lowest since May 2024 and the 24th consecutive month of contraction.
The Chicago Business Barometer increased 3.2 pts to 43.8 in October 2025, recovering most of the July rebound but remaining in contraction for the 23rd consecutive month.

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The Chicago Business Barometer fell -0.9 pts to 40.6 in September 2025, unwinding most of July’s rebound and remaining in contraction for the 22nd consecutive month.
- New Orders plunged -7.0 pts, leaving the index near its year-to-date low from May.
- Supplier Deliveries fell -6.4 pts to the lowest since January, though the index has stayed above the 50 threshold for eight straight months.
- Employment dropped -4.1 pts to its weakest level since June 2009, with the highest share of firms cutting staff since the 2008 financial crisis.
- Production rose +3.8 pts, the first increase after five consecutive declines, partly offsetting weakness elsewhere.
- Order Backlogs increased +3.3 pts, showing some rebuilding of demand after earlier drops.
- Inventories fell sharply by -7.5 pts, reversing recent gains.
- Prices Paid edged down -0.4 pts to the lowest since January, though still above last year’s average.
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The Chicago Business Barometer fell -5.6 pts to 41.5 in August 2025, nearly reversing July’s rise and remaining in contraction for the 21st straight month.
- New Orders plunged -10.8 pts, the steepest decline since September 2023, with more firms reporting fewer orders.
- Employment fell -5.9 pts to its lowest since June 2020, fully unwinding gains made earlier this year.
- Production dropped -3.6 pts, marking the fifth straight decline and weakest level since December 2024.
- Order Backlogs eased -1.4 pts, continuing pressure on demand conditions.
- Supplier Deliveries rose +5.8 pts, with no firms reporting faster deliveries for the second time this year.
- Prices Paid contracted -8.3 pts for the second consecutive month but remained above the 2024 average.
- Inventories weakened -2.3 pts, pointing to softer restocking activity.
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The Chicago Business Barometer rose 6.7 points to 47.1 in July 2025, the largest monthly increase in over a year, but the index remains in contraction for the 20th straight month.
- New Orders surged 14.6 points, marking the ninth-largest gain on record and the highest level since May 2022.
- Order Backlogs rebounded 12.9 points, more than reversing declines in May and June.
- Production fell -1.2 points to the lowest reading since January, while Employment was flat (-0.4 pts).
- Supplier Deliveries edged down -0.2 points but remained above the 50 threshold since February.
- Prices Paid dropped -8.3 points, fully reversing June’s rise, with no respondents reporting lower prices for the fifth time in six months.
- Inventories rose 4.5 points, indicating some rebuilding activity.
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The Chicago Business Barometer, produced with MNI, fell -0.1 points to 40.4 in June. The index is now 7.2 points below March's year-to-date high of 47.6 and has now been below 50 for nineteen consecutive months.
- The slight decrease was driven by a fall in Supplier Deliveries, Production, Employment and Order Backlogs. This was almost fully offset by a rise in New Orders.
- New orders rebounded 4.1 points, but remain below the year-to-date average. The increase was driven by a lower proportion of respondents reporting fewer new orders compared to May.
- Supplier deliveries eased 6.8 points.
- Production pared 2.7 points. This was the third consecutive decline, with the index now at its lowest since January.
- Employment retraced 3.9 points, but sees the second highest reading of 2025.
- Order backlogs softened 1.5 points to the lowest level since May 2020. Only 4% of respondents reported larger backlogs in June, the second smallest percentage on record and the lowest since 1980.
- Inventories moderated 8.0 points.
- Prices paid climbed 8.3 points to the highest level since May 2022. 70% of respondents reported higher prices paid in June, up from 57% in May.
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The ISM Chicago PMI fell -4.1 pts to 40.5 in May, below expectations of an increase to 45.0 and the lowest since January 2025.
The ISM Chicago PMI fell -3.0 pts to 44.6 in April, below expectations of a smaller decline to 45.5.

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The ISM Chicago PMI improved 2.1 pts to 47.6 in March, above the forecast of a reading of 45.2 and the third straight monthly gain.
- This is the highest level since November 2023 even though the index is contracting for the 16th straight month.
- The increase was largely driven by a rise in Production, with smaller increases in Employment, Order Backlogs and New Orders also contributing whilst Supplier Deliveries declined.
- Production increased 8.8 pts to the highest since December 2023, taking it into expansionary territory for the first time since June 2024.
- New Orders saw a minor 0.4 pt rise, with the subindex last higher than this in November 2023.
- Employment lifted 0.9 pts, only a marginal improvement from January 2025 which had recorded the lowest level since June 2020.
- Order Backlogs progressed by 0.7 pts, remaining the highest since September 2024.
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The ISM Chicago PMI increased 6.0 pts to 45.5 in February, above expectations of a 40.6 reading and the highest since September 2024. The monthly increase was the largest since June 2024.

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The ISM Chicago PMI came in at 39.5 in January, up from 36.9 in December and below the consensus estimate of 40.0. This is the second lowest reading since May 2024 and a weak start to the new year.

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