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- Chicago business activity contracts further in October
Chicago business activity contracts further in October
MNI Indicators’
report revealed on Thursday that business activity in Chicago contracted further
this month.
The MNI Chicago Business Barometer, also known as Chicago purchasing manager's index (PMI) came in at 43.2 in October, down from an unrevised 47.1 in September. That was the lowest reading since December 2015.
Economists had forecast the index to increase
to 48.0.
A reading above
50 indicates improving conditions, while a reading below this level shows
worsening of the situation.
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