Investing.com – Manufacturing activity in the Chicago area declined unexpectedly in January, industry data showed on Tuesday.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index declined by 2.3 points to a seasonally adjusted 60.2 in January from a reading of 62.5 in December.
Analysts had expected the index to rise by 0.5 points to 63.0 in January.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the U.S. dollar turned higher against the euro, with EUR/USD shedding 0.08% to trade at 1.3132.
Meanwhile, U.S. equity markets were up after the open. The Dow Jones Industrial Average added 0.3%, the S&P 500 index advanced 0.3%, while the Nasdaq Composite index rose 0.35%.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index declined by 2.3 points to a seasonally adjusted 60.2 in January from a reading of 62.5 in December.
Analysts had expected the index to rise by 0.5 points to 63.0 in January.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the U.S. dollar turned higher against the euro, with EUR/USD shedding 0.08% to trade at 1.3132.
Meanwhile, U.S. equity markets were up after the open. The Dow Jones Industrial Average added 0.3%, the S&P 500 index advanced 0.3%, while the Nasdaq Composite index rose 0.35%.