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Add as a preferred source on GoogleChicago PMI Falls to 55.3 in October, Missing 56.0 Estimate
The index dropped from 58.8 in September but stayed above the 50-point expansion threshold for a second month.
Chicago business activity expanded for a second month in October, as the Chicago Purchasing Managers’ Index (PMI) fell to 55.3 from September’s 58.8, signaling a slower pace of growth.
The October score was 3.5 points below September’s reading and 0.7 point under the 56.0 consensus estimate. A result above 50 indicates expansion, while a reading below that level signals contraction.
The reading was released Friday, Oct. 30. The release had been listed in a preview of Friday’s U.S. economic releases.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.