FOREX TradingCharts.com

Financial News: Chicago Business Barometer Unexpected Indicates Sharper Co

Chicago Business Barometer Unexpected Indicates Sharper Contraction In July

07/31/2019 - 10:26:00 (RTTNews)

(RTTNews) - MNI Indicators released a report on Wednesday unexpectedly showing a continued contraction in Chicago-area business activity in the month of July.

The report said the Chicago business barometer tumbled to 44.4 in July from 49.7 in June, with a reading below 50 indicating a contraction in regional business activity.

The continued decrease came as a surprise to economists, who had expected the business barometer to edge back above 50 to 50.6.

MNI Indicators said four of the five business barometer components were in contraction territory in July, with only the supplier deliveries index above 50.

The production index plunged by 22 percent to a ten-year low, while the new orders index also subsided further into contraction.

The report also said the employment index fell into contraction for the first time since October of 2017, as weaker demand and production led firms to adjust their workforce.

"Global risks, trade tensions, slowdown in demand and sombre growth expectations, all jeopardize business conditions," said Shaily Mittal, Senior Economist at MNI.

"Firms are not panicking yet, but the latest report isn't adding to the cheer," she added. "The above risks lend weight to a monetary easing approach by the Fed, albeit a gradual one."

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2019 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Bundesbank: German Economic Activity Could Decline Slightly In Q3 (07 hr(s), 20 min(s), 06 sec(s) ago)
(RTTNews) - The German economy could shrink further in the third quarter as the slowdown in the in ...Full Story»

BoE Chief Urges EU Lawmakers To Address Delay In Amending OTC Contract Rules (09 hr(s), 37 min(s), 06 sec(s) ago)
(RTTNews) - Germany and France have not amended their rules related to over-the-counter derivative ...Full Story»

UK Households' Financial Well Being Falls (09 hr(s), 51 min(s), 06 sec(s) ago)
(RTTNews) - UK households' assessment of their financial well-being fell in August, survey da ...Full Story»

Hong Kong Jobless Rate Rises In July (09 hr(s), 53 min(s), 06 sec(s) ago)
(RTTNews) - Hong Kong's jobless rate rose marginally during the May to July period, data from ...Full Story»

Eurozone Inflation Lowest Since Late 2016 (11 hr(s), 45 min(s), 06 sec(s) ago)
(RTTNews) - Eurozone inflation eased more than initially estimated in July to the lowest since lat ...Full Story»

Eurozone Current Account Surplus Decreases In June (11 hr(s), 57 min(s), 06 sec(s) ago)
(RTTNews) - Eurozone's current account surplus decreased in June to its lowest level in nearly ...Full Story»

Austria Inflation Slows In July (13 hr(s), 50 min(s), 06 sec(s) ago)
(RTTNews) - Austria's consumer price inflation slowed in July, figures from Statistics Austria ...Full Story»

Turkey Retail Sales Decline Slows In June (13 hr(s), 52 min(s), 06 sec(s) ago)
(RTTNews) - Turkey's retail sales declined in June, but at a slower pace, data from the Turkis ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Bundesbank: German Economic Activity Could Decline Slightly In Q3

08/19/2019 - 10:08 AM (RTTNews)
(RTTNews) - The German economy could shrink further in the third quarter as the slowdown in the in ...Full Story>>

BoE Chief Urges EU Lawmakers To Address Delay In Amending OTC Contract Rules

08/19/2019 - 07:51 AM (RTTNews)
(RTTNews) - Germany and France have not amended their rules related to over-the-counter derivative ...Full Story>>

UK Households' Financial Well Being Falls

08/19/2019 - 07:37 AM (RTTNews)
(RTTNews) - UK households' assessment of their financial well-being fell in August, survey da ...Full Story>>

Hong Kong Jobless Rate Rises In July

08/19/2019 - 07:35 AM (RTTNews)
(RTTNews) - Hong Kong's jobless rate rose marginally during the May to July period, data from ...Full Story>>

Eurozone Inflation Lowest Since Late 2016

08/19/2019 - 05:43 AM (RTTNews)
(RTTNews) - Eurozone inflation eased more than initially estimated in July to the lowest since lat ...Full Story>>
Copyright © 2019. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.