Chicago PMI Higher than Expected at 57.7 in July

Business activity in the U.S. Midwest jumped to a six-month high in July, topping economists’ forecasts and showing expansion in the region for the first time since April, a report showed on Friday.

The Chicago Business Barometer for July was 54.7, according to the MNI Chicago Report. Economists had forecast the index at 50.5 for July, after June’s reading of 49.4. A reading above 50 indicates expansion in the sector.

July’s reading was the highest since January, when it read 59.4.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza