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- Chicago business activity improves less than forecast in June
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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