Chicago-area business activity unexpectedly contracted in the month of April, according to a report released by the Institute for Supply Management - Chicago on Tuesday.
The ISM Chicago said its business barometer fell to 49.0 in April from 52.4 in March, with a reading below 50 indicating a contraction in regional business activity.
The drop came as a surprise to economists, who had expected the business barometer to come in unchanged compared to the previous month.
With the unexpected decrease in April, the Chicago Business Barometer fell to its lowest level in well over three years.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.