US: Chicago PMI edges down to 65.4 in December vs 62 expected

"The MNI Chicago Business Barometer eased to 65.4 in December, down 1.0 point from November’s 66.4," the ISM-Chicago reported on Friday.

Key takeaways from the press release

• Recording just the fourth year-over-year fall this year, the Barometer continues to signal a healthy business environment, notching the 34th consecutive reading above 50. 
• Contributing to December’s moderation was a fall in demand, easing somewhat after surging last month. 
• On balance, firms continued to increase inventory levels in December. 
• Inflationary pressures on firms continued to ease in December, with the Prices Paid indicator down for the fifth consecutive month and by the biggest margin in almost four years.
  • Steel and wood were reportedly less costly, but multiple firms continued to report tariffs keeping prices elevated and stifling business.