Chicago PMI contracts for a fifth consecutive month; CB consumer confidence flashes recession
The Chicago Purchasing Manager’s Index (PMI), an index of the strength of manufacturing firms based in the Chicago area, saw declines in January 2023 settling at 44.3, from 44.9 in December 2022. A reading under 50 signals a contraction, while above 50 marks an expansion. This was the fifth consecutive contraction for the index, which
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