Chicago PMI Falls in January
The latest Chicago Purchasing Manager's Index (Chicago Business Barometer) fell to 46.0 in January from 47.2 in December. The latest reading is worse than the 48.0 forecast and keeps the index in contraction territory for a second straight month.
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.