MNI Indicators released a report on Wednesday unexpectedly showing a steep drop by its reading on Chicago-area business activity in the month of November.
The report said the Chicago business barometer plunged to 36.3 in November after climbing to 43.8 in October, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 44.3.
MNI Indicators noted the index slumped below 40 for the first time since January and has remained below 50 for twenty-four consecutive months.
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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.