MNI Indicators released a report on Wednesday unexpectedly showing a continued contraction in Chicago-area business activity in the month of July.
The report said the Chicago business barometer tumbled to 44.4 in July from 49.7 in June, with a reading below 50 indicating a contraction in regional business activity.
The continued decrease came as a surprise to economists, who had expected the business barometer to edge back above 50 to 50.6.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.