Chicago PMI falls to 60.5 in September
Investing.com
Published Sep 30, 2014 09:46AM ET
Chicago PMI falls more than expected in September
Investing.com - Manufacturing activity in the Chicago-area expanded at a slower rate than expected in September, dampening optimism over the U.S. economic outlook, industry data showed on Tuesday.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index fell by 3.8 points to a seasonally adjusted 60.5 this month from a reading of 64.3 in August. Analysts had expected the index to decline to 61.9 in September.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Commenting on the MNI Chicago Report, Philip Uglow, Chief Economist of MNI Indicators said, “Activity levels remained buoyant in September and point to continued firm economic growth."
EUR/USD was trading at 1.2610 from around 1.2609 ahead of the release of the data, while GBP/USD was at 1.6214 from 1.6218 earlier.
Meanwhile, U.S. stock markets were lower after the open. The Dow 30 shed 0.15%, the S&P 500 dipped 0.15%, while the NASDAQ 100 declined 0.1%.
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Written By: Investing.com
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