The MNI Chicago Business Barometer in the US decreased by 4.5 points from a month earlier to 49.7 in June 2019, missing market expectations of 53.1 and pointing to the first month of contraction in Chicago's activity since January 2017. Demand eased for the fourth time this year and consequently firms pulled back production. In addition, order backlogs remained in contraction for the second consecutive month. Chicago Pmi in the United States averaged 54.83 Index Points from 1967 until 2019, reaching an all time high of 78.60 Index Points in January of 1973 and a record low of 21.20 Index Points in June of 1980.
Chicago Pmi in the United States is expected to be 53.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Chicago Pmi in the United States to stand at 50.00 in 12 months time. In the long-term, the United States Chicago PMI is projected to trend around 56.00 Index Points in 2020, according to our econometric models.