MNI Indicators’ report revealed on Wednesday that business activity in Chicago grew in December at a slightly faster pace than in November, recording its sixth straight month of expansion.

The MNI Chicago Business Barometer, also known as Chicago purchasing manager's index (PMI) came in at 59.5 in December, slightly up from 58.2 in November.

Economists had forecast the index to fall to 57.0.

A reading above 50 indicates improving conditions, while a reading below this level shows worsening of the situation.

According to the report, Employment and Order Backlogs registered the largest monthly gains among the main five indicators, while New Orders recorded the biggest drop.