Investing.com - Manufacturing activity in the Chicago area contracted for the second consecutive month in October, industry data showed on Wednesday.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index rose by 0.2 points to a seasonally adjusted 49.9 in October from a reading of 49.7 in September.
Analysts had expected the index to improve by 1.3 points to 50.0 in October.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
The New Orders Index rose 3.2 points to 50.6, while the Employment Index decreased 1.7 points to 50.4.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.23% to trade at 1.2988.
Meanwhile, U.S. equity markets remained mixed after the open. The Dow Jones Industrial Average rose 0.4%, the S&P 500 index added 0.3%, while the Nasdaq Composite index declined 0.3%.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index rose by 0.2 points to a seasonally adjusted 49.9 in October from a reading of 49.7 in September.
Analysts had expected the index to improve by 1.3 points to 50.0 in October.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
The New Orders Index rose 3.2 points to 50.6, while the Employment Index decreased 1.7 points to 50.4.
Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.23% to trade at 1.2988.
Meanwhile, U.S. equity markets remained mixed after the open. The Dow Jones Industrial Average rose 0.4%, the S&P 500 index added 0.3%, while the Nasdaq Composite index declined 0.3%.