Investing.com - Manufacturing activity in the Chicago-area contracted for the first time in six months in April, industry data showed on Tuesday.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index fell to a seasonally adjusted 49.0 in April from a reading of 52.4 in March.
Analysts had expected the index to ease up to 52.5 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 added to losses against the euro, with EUR/USD adding 0.29% to trade at 1.3136.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average dipped 0.3%, the S&P 500 index fell 0.25%, while the Nasdaq Composite index was flat.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index fell to a seasonally adjusted 49.0 in April from a reading of 52.4 in March.
Analysts had expected the index to ease up to 52.5 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 added to losses against the euro, with EUR/USD adding 0.29% to trade at 1.3136.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average dipped 0.3%, the S&P 500 index fell 0.25%, while the Nasdaq Composite index was flat.