Chicago PMI Picks Up To 59.4 In January

Chicago PMI rose in January, helped by growth in new orders and the best reading on employment in 14 months. Chicago PMI rose 0.6 points to 59.4. "This was a solid start to 2015 with current growth in orders and output consistent with ongoing strength in U.S. GDP. Encouragingly, the January survey showed that strength we saw in the second half of 2014 is having a significantly positive impact on employment," said Philip Uglow, chief economist of MNI Indicators. Any reading above 50 indicates expansion.