Economic Report: Chicago business activity gauge sinks further into contractionary territory in February

February 28, 2023

The Chicago Business Barometer, also known as the Chicago PMI, fell to 43.6 in February from 44.3 in the prior month, according to a report from ISM-Chicago and MNI.

Economists polled by the Wall Street Journal expected a 45 reading.

This is the sixth straight reading below the 50 threshold that indicates contraction territory.

The Chicago PMI is the last of the regional manufacturing indices before the national ISM manufacturing data for February is released Wednesday.

Economists expect the ISM factory index to inch up to 47.6% from 47.4%. It would be the fourth straight month in contraction territory.

Stocks
DJIA,
-0.44%

SPX,
-0.06%
opened lower on Tuesday after high inflation readings from Europe. The yield on the 10-year Treasury note
TMUBMUSD10Y,
3.956%
rose to 3.97%.

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