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30.06.2020, 14:01

Chicago business activity improves less than forecast in June

MNI Indicators’ report revealed on Tuesday that business activity in Chicago picked up this month, as Covid-19 related shutdowns eased somewhat.

The MNI Chicago Business Barometer, also known as Chicago purchasing manager's index (PMI) came in at 36.6 in June, up from a 38-year low of 32.3 in May. Economists had forecast the index to increase to 45.0.

Over Q2, however, business sentiment fell 11.8 points to 34.8, hitting the lowest level since Q1 2009.

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

According to the report, New Orders and Production recorded their largest monthly gains in June, while Supplier Deliveries and Employment faltered.

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