Investing.com - Manufacturing activity in the Chicago-area expanded at a slower rate than expected in July, industry data showed on Wednesday.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index inched up to a seasonally adjusted 52.3 in July from a reading of 51.6 in June.
Analysts had expected the index to rise to 54.0 this month.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.28% to trade at 1.3224.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.3%, the S&P 500 index added 0.3%, while the Nasdaq Composite index gained 0.5%.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index inched up to a seasonally adjusted 52.3 in July from a reading of 51.6 in June.
Analysts had expected the index to rise to 54.0 this month.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.28% to trade at 1.3224.
Meanwhile, U.S. equity markets were higher after the open. The Dow Jones Industrial Average rose 0.3%, the S&P 500 index added 0.3%, while the Nasdaq Composite index gained 0.5%.