Financial News: Chicago Business Barometer Rebounds Much More Than Expecte

Chicago Business Barometer Rebounds Much More Than Expected In June

06/28/2024 - 10:04:00 (RTTNews)

(RTTNews) - A report released by MNI Indicators on Friday showed a substantial slowdown in the pace of contraction in Chicago-area business activity in the month of June.

MNI Indicators said its Chicago business barometer surged to 47.4 in June from 35.4 in May, although a reading below 50 still indicates contraction. Economists had expected the business barometer to climb to 40.0.

The Chicago business barometer rebounded following six consecutive monthly decreases, reaching its highest level since November 2023.

The new orders index led the way higher, spiking by 16.9 points and returning to similar levels seen in the first quarter.

MNI Indicators said the production index also jumped by 11.0 points to the highest since December 2023, while the employment index shot up by 6.9 points to a three-month high.

Meanwhile, the report said the prices paid index tumbled by 11.9 points, falling to its lowest level since June 2023.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

German Unemployment Rises More Than Forecast (05 hr(s), 58 min(s), 08 sec(s) ago)
(RTTNews) - Joblessness in German grew more than expected in June and the unemployment rate edged ...Full Story»

U.S. Consumer Sentiment Deteriorates Much Less Than Previously Estimated In June (06 hr(s), 26 min(s), 08 sec(s) ago)
(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentimen ...Full Story»

Brazil Jobless Rate Falls To 7.1% (06 hr(s), 39 min(s), 08 sec(s) ago)
(RTTNews) - Brazil's unemployment rate decreased in the three months ending May, figures from ...Full Story»

Chicago Business Barometer Rebounds Much More Than Expected In June (06 hr(s), 50 min(s), 08 sec(s) ago)
(RTTNews) - A report released by MNI Indicators on Friday showed a substantial slowdown in the pac ...Full Story»

U.S. Consumer Price Inflation Data In Line With Estimates In May (07 hr(s), 04 min(s), 08 sec(s) ago)
(RTTNews) - The Commerce Department released closely watched consumer price inflation data on Frid ...Full Story»

Portugal Inflation Eases To 2.8% In June (07 hr(s), 32 min(s), 08 sec(s) ago)
(RTTNews) - Portugal's consumer prices rose at a slightly slower rate in June, preliminary dat ...Full Story»

Poland Inflation Rises Slightly To 2.6% (08 hr(s), 08 min(s), 08 sec(s) ago)
(RTTNews) - Poland's consumer price inflation increased somewhat for the second straight month ...Full Story»

U.S. PCE Price Index Unchanged In May, In Line With Estimates (08 hr(s), 13 min(s), 08 sec(s) ago)
(RTTNews) - The Commerce Department released closely watched consumer price inflation data on Frid ...Full Story»