The National Association of Purchasing Management is the organisation that produces the Chicago PMI Report. It evaluates the upper Midwest's degree of manufacturing health. It also goes by the name of the Business Barometer. It is used to forecast the ISM Report, which is released roughly two weeks later, and is announced at the conclusion of the month in The Chicago Report.The Chicago PMI report has been very accurate in predicting whether or not manufacturing will grow or shrink in upcoming months. In March 2016, for example, it predicted that manufacturing would shrink and that's exactly what happened according to data from ISM Manufacturing Index released a couple weeks later. Because this report is so reliable, businesses and economists pay close attention to it when making decisions about production and hiring plans.
