Chicago Business Barometer Unexpectedly Edges Slightly Lower In June

(RTTNews) - A report released by MNI Indicators on Monday showed a slight decrease by its reading on Chicago-area business activity in the month of June.

MNI Indicators said its Chicago business barometer edged down to 40.4 in June from 40.5 in May, with a reading below 50 indicating contraction. Economists had expected the Chicago business barometer to rise to 43.0.

The dip by the Chicago business barometer partly reflected a decrease by the production index, which fell by 2.7 points to its lowest level since January.

The supplier deliveries index also slumped 6.8 points and the employment index slid by 3.9 points, while the new orders rebounded by 4.1 points but remains below the year-to-date average.

On the inflation front, MNI Indicators said the prices paid index jumped by 8.3 points to its highest level since May 2022.