Chicago Purchasing Managers Index, Business Barometer

Chicago PMI is a monthly survey of over 200 purchasing managers.  This index measures manufacturing from the opinion of Chicago’s purchasing managers.  It is not based on hard facts.  A measure of 50 is the median measurement, variance above suggest expansion and below insinuates contraction.  The Chicago PMI has an ELEVATED impact on the mortgage market because it indicates the health of the economy and gives investors a hint at the more important ISM numbers.  The Chicago PMI is released the last day of the month, one day in front of the Institute of Supply Management Report.