US Chicago July Purchasing Management Index slumps to 38.0

The July Purchasing Management Index in Chicago, US declined 6.4% over the June index to 38.0 after the seasonal adjustment. The index fell out of market expectation. The index was below 50, reflecting that the manufacturing in the region was shrinking. June index grew from 38.7 in May to 44.4. However, the up-range in June was offset by the decline in July index. The depressive index dashed the market expectation for a quick economic recovery.

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