Chicago PMI Falls Further to 5-Month Low

The Chicago Purchasing Managers’ Index (Chicago Business Barometer) fell for a third straight month to its lowest level since January. The index inched down to 40.4 in June from 40.5 in May, falling short of the 42.7 forecast. The latest reading marks the 19th 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.