New data Chicago PMI (Oct)
10/31/2024
actual 41.6, previous 46.6
The Chicago Purchasing Managers' Index (PMI) for October is a key economic indicator that measures the business conditions in the Chicago area. A reading below 50 indicates contraction in the manufacturing sector, while a reading above 50 indicates expansion.In this case, the Chicago PMI for October came in at 41.6, which is lower than both the previous month's reading of 46.6 and the market estimate of 47. This suggests a significant contraction in business activity in the Chicago area. The decrease of 5 points from the previous month represents a 10.73% decline.
Overall, this lower-than-expected Chicago PMI figure could indicate a slowdown in manufacturing activity in the region, which may have implications for the broader US economy.
This is not investment advice. Remember to verify the information provided here.
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