US Chicago PMI dips unexpectedly in December

(Sharecast News) - Factory sector activity in the Chicago area slowed a bit more quickly at the end tail-end of 2024, the results of a closely followed survey revealed. Market News International's Chicago Business Barometer slipped by 3.3 points from the month before to reach 36.9 in December.

Economists had forecast an improvement to 42.8.

The 50-point level marked the threshold between an expansion or a contraction in activity levels.

A key sub-index tracking new orders dropped by 13.5 points, plumbing its lowest reading since May 2020.

Another gauge linked to production meanwhile dipped by 2.9 points, leaving it at its lowest level since January 2009 with the only exception of the period around the start of the Covid pandemic.