Chicago PMI Hits One Year of Contraction

The latest Chicago Purchasing Manager's Index (Chicago Business Barometer) rose to 48.7 in August from 42.8 in July. While this is the highest level for the index in the past year, the latest reading marks twelve straight months in contraction territory. This reading comes in above the forecast of 44.1.

Background on Chicago PMI

The Chicago PMI assess the business conditions and the economic health of the manufacturing sector in the Chicago region. A value above 50.0 indicate expanding manufacturing activity, while a value below 50.0 indicate contracting manufacturing activity.