Chicago PMI Falls for First Time This Year

The Chicago Purchasing Managers’ Index (Chicago Business Barometer) fell for the first time this year. The index dropped to 44.6 this month from 47.6 in March, falling short of the 45.9 forecast. The latest reading marks the 17th consecutive month the index has contracted.

Background on Chicago PMI

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