The Chicago purchasing managers index rose to 51.6% in December from 50.4% in November to mark the best performance in four months
Economists surveyed by MarketWatch had expected the Chicago PMI to edge up to 51.0%
New orders posted the biggest increase in 19 months, advancing to 54.0% from 45.3% in November
The production index fell slightly, however, to 53.8%, while employment tumbled to 45.9% from 55.2%.
Any reading above 50 indicates expansion
The latest report suggests some businesses took advantage of expiring investment credits, but they also pulled back on hiring because of worries about the fiscal cliff
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