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- Chicago business activity expands in July
Chicago business activity expands in July
MNI Indicators’
report revealed on Friday that business activity in Chicago expanded this
month, following twelve consecutive months of contraction.
The MNI Chicago
Business Barometer, also known as Chicago purchasing manager's index (PMI) came
in at 51.9 in July, up from 36.6 in June. That was the highest reading since
May 2019. Economists had forecast the index to increase to 43.9.
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
July, while Supplier Deliveries fell to the lowest level since January 2020.
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