Chicago PMI Rises to 46.1, Still in Contraction

Aug 30, 2024, 01:47 PM

The Chicago Purchasing Managers' Index (PMI) for August has been reported at 46.1, which is above the forecast of 44.8 and an improvement from the previous measure of 45.3. Despite this increase, the index remains below 50, indicating a contraction in the manufacturing sector. This marks the ninth consecutive month that the Chicago PMI has been in contraction territory, reflecting ongoing economic challenges in the region. The index has been sub-fifty in 23 of the last 24 months, highlighting persistent difficulties in achieving growth.