Chicago Business Barometer Unexpectedly Falls To Lowest Level Since May 2023
A report released by MNI Indicators on Thursday showed Chicago-area business activity unexpectedly contracted at an accelerated rate in the month of March.
MNI Indicators said its Chicago business barometer fell to 41.4 in March from 44.0 in February, with a reading below 50 indicating contraction. Economists had expected the index to rise to 46.0.
The Chicago business barometer decreased for the fourth consecutive month, falling to its lowest level since May 2023.
MNI Indicators said the barometer's unexpected move lower was driven by a reduction in Order Backlogs, New Orders, Production, and Supplier Deliveries, whilst a gain in Employment limited the downside.
Economic News
Reprinted from RTTNews,the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.