The Chicago Business Barometer, also known as the Chicago PMI, rose 1.3 points to 42.8 in July from 41.5, according to MNI Indicators.
Economists polled by the Wall Street Journal forecast a 43.3 reading.
That’s the 11th straight reading below the 50 threshold that indicates contraction territory. The results mimic other surveys of manufacturers that show tepid growth.
The index is produced by the ISM-Chicago with MNI. It is released to subscribers three minutes before its release to the public at 9:45 am Eastern.
This article was originally published by Marketwatch.com. Read the original article here.
