Chicago PMI Falls to 55.3 in October, Below Forecasts: Down From September's 58.8 but Still in Expansion Territory
The Chicago Business Barometer, known as the Chicago PMI, compiled by MNI and ISM Chicago, fell to 55.3 in October, below market forecasts and down from 58.8 in September. The index was released at 9:45 a.m. ET on October 30; the consensus forecast compiled by FXStreet was 56.1.
The Chicago PMI is based on a monthly survey of purchasing managers in the Chicago area and is a closely watched leading indicator of manufacturing and business conditions in the U.S. Midwest. Readings above 50 signal expansion, while readings below 50 signal contraction. October's 55.3 reading means business activity in the Chicago region continued to expand, though at a slower pace than in September.
Other data released the same day included the U.S. Employment Cost Index for the third quarter, which rose 0.8% from the prior quarter, in line with expectations, showing continued moderation in compensation cost growth. Together, the two releases gave markets an updated read on the U.S. economy and business cost pressures.
Related: U.S. Employment Cost Index Rises 0.8% in Q3 as Expected
Source: GSM · USA (original Chinese edition)
Photo: 图：位于 Chicago 的芝加哥市政厅外景（GSM城市固定图库）。照片：ajay_suresh，CC BY 2.0，经 Wikimedia Commons。 / Chicago City Hall in Chicago (GSM city photo library). Photo: ajay_suresh, CC BY 2.0, via Wikimedia Commons.
