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- Chicago business activity’s growth decelerates more than forecast in February
Chicago business activity’s growth decelerates more than forecast in February
MNI Indicators’
report revealed on Friday that business activity in Chicago expanded in February,
albeit at a slower pace than in January, recording its eighth straight month of
growth.
The MNI Chicago Business Barometer, also known as Chicago purchasing manager's index (PMI) came in at 59.5 in February, down from an unrevised 63.8 in January.
Economists had
forecast the index to drop to 61.1.
A reading above
50 indicates improving conditions, while a reading below this level shows
worsening of the situation.
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