Chicago business activity expands sharply in September

Market news

30 September 2020

Chicago business activity expands sharply in September

MNI Indicators’ report revealed on Wednesday that business activity in Chicago grew sharply in September.

The MNI Chicago Business Barometer, also known as Chicago purchasing manager's index (PMI) came in at 62.4 in September, noticeably up from 51.2 in August. This was the highest level since December 2018. Economists had forecast the index to increase to 52.0.

A reading above 50 indicates improving conditions, while a reading below this level shows worsening of the situation.

According to the report, all five main indicators saw monthly gains in September, with Production and New Orders leading the way.

U.S. pending home sales rise more than forecast in August

U.S.: Pending Home Sales (MoM) , August 8.8%

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