Chicago business activity’s growth decelerates more than forecast in February

Market news

26 February 2021

Chicago business activity’s growth decelerates more than forecast in February

MNI Indicators’ report revealed on Friday that business activity in Chicago expanded in February, albeit at a slower pace than in January, recording its eighth straight month of growth.

The MNI Chicago Business Barometer, also known as Chicago purchasing manager's index (PMI) came in at 59.5 in February, down from an unrevised 63.8 in January.

Economists had forecast the index to drop to 61.1.

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

U.S.: Personal income surges and spending rebounds - TD Bank Financial Group

U.S. consumer sentiment slightly better than initially estimated in February

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