The Chicago Business Barometer, commonly known as the Chicago PMI, declined to 36.9 in December 2024, down from 40.2 in November and significantly below the market expectation of 42.5.
The Chicago Business Barometer, commonly known as the Chicago PMI, declined to 36.9 in December 2024, down from 40.2 in November and significantly below the market expectation of 42.5. This marks the 13th consecutive month of contraction in Chicago's economic activity and represents the sharpest monthly decline since May.
New orders experienced a steep drop, falling by 13.5 points to the second-lowest level since May 2020. Over half of the survey respondents reported a decrease in new orders, a scenario last observed in June 2020, which highlighted a significant weakness in demand.
The ongoing contraction in the Chicago PMI underscores persistent challenges in the regional economy, with declining new orders and subdued business sentiment pointing to continued headwinds as the year concludes.
The U.S. dollar extended its strength after the Federal Reserve kept interest rates unchanged and signaled no immediate plans to ease, pressuring major currencies and precious metals. The euro fell to its lowest level since mid-June, while the British pound dropped toward a 2.5-month low.
Eurozone Growth Slows to 0.1% in Q2 Amid Trade UncertaintyAccording to preliminary data released on Tuesday, the Eurozone economy nearly stalled in the second quarter of 2025, expanding by just 0.1 percent. The figure marks a sharp deceleration from the 0.6 percent growth recorded in the first quarter and represents the weakest quarterly performance since late 2023.
Detail Currencies Stir as Fed Takes the Spotlight (07.30.2025)Markets entered a holding pattern on Wednesday as traders positioned themselves ahead of the Federal Reserve’s policy decision.
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