Mumbai, Oct. 1 -- A report released by MNI Indicators on Tuesday expectedly showed a modest decrease by its reading on Chicago-area business activity in the month of September.
MNI Indicators said its Chicago business barometer edged down to 40.6 in September after falling to 41.5 in August, with a reading below 50 indicating contraction.
With the continued decrease, the index has now almost fully unwound the 6.7 point jump seen in July and remains below 50 for the twenty-second consecutive month.
The unexpected dip by the headline index was driven by another sharp drop by the new orders index alongside declines by the supplier deliveries and employment indexes, MNI Indicators said.
The report said the new orders index plunged by 7.0 po...