• Analytics
  • News and Tools
  • Market News
  • Chicago business activity unexpectedly declines further in May
Market News
29.05.2020, 14:02

Chicago business activity unexpectedly declines further in May

MNI Indicators’ report revealed on Friday that business activity in Chicago decreased this month, as business confidence cooled further amid the COVID-19 crisis.

The MNI Chicago Business Barometer, also known as Chicago purchasing manager's index (PMI) came in at 32.3 in May, down from an unrevised 35.4 in April. That was the lowest level since March 1982.

Economists had forecast the index to increase to 40.0.

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

According to the report, New Orders decreased by 2.3 points to the lowest since July 1980, while Production ticked down 6.3 percent in May, remaining at a 40-year low as firms reported pandemic-induced temporary shutdowns. In addition, Order Backlogs dropped 28.0 percent to the lowest level since March 2009, and Supplier Deliveries fell by 5.8 percent. Meanwhile, Employment edged marginally higher, rebounding after April’s sharp drop, and Inventories rose further, with firms noting a higher level than needed.

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.

Live Chat E-mail
Choose your language / location