empty
 
 

2020.07.3114:06:00UTC+00Chicago Business Barometer Unexpectedly Indicates Expansion In July

Following twelve straight months of contraction, MNI Indicators released a report on Friday showing an unexpected expansion in Chicago-area business activity in the month of July.

MNI Indicators said its Chicago business barometer spiked to 51.9 in July from 36.6 in June, with a reading above 50 indicating growth in regional business activity. Economists had expected the index to jump to 43.9.

With the much bigger than expected increase, the Chicago business barometer reached its highest level since May of 2019.

The headline index skyrocketed as the new orders index soared to its highest level since August of 2019 and the production index also surged back into expansion territory.

MNI Indicators said some companies noted recovering orders, while others reported continued difficulties due to the Covid-19 effects.

The report also showed a notable increase by the employment index, although MNI Indicators noted there was anecdotal evidence that firms had to lay off staff as a result of the current health crisis.

On the inflation front, the prices paid at the factory gate edged higher, gaining 1.7 points to reach a seven-month high.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback