Summary
- The Chicago Purchasing Managers’ Index (Chicago Business Barometer) rose more than expected in October, increasing 3.2 points to 43.8.
- Looking at its historical performance, the current level of 43.8 is lower than where the index stood at the start of 6 of the 7 recessions since its inception.
- Given its persistent weakness, the current level reinforces concerns about ongoing softness in the manufacturing sector.
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By Jennifer Nash
The Chicago Purchasing Managers’ Index (Chicago Business Barometer) rose more than expected in October, increasing 3.2 points to 43.8. This reading came in above the projected 42.3. Despite the improvement, the index still came in below 50, which marks the
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