MNI Indicators’ report revealed on Monday that business activity in Chicago grew for the fifth straight month in November, albeit at a slower pace than in October.

The MNI Chicago Business Barometer, also known as Chicago purchasing manager's index (PMI) came in at 58.20 in November, slightly down from 61.10 in October. This was the lowest reading since August. Economists had forecast the index to decrease to 59.0.

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

According to the report, New Orders and Production posted the only declines among the main five indicators, while Supplier Deliveries recorded the largest advance.