Investing.com - Manufacturing activity in the Chicago-area expanded at a faster rate than expected in September, industry data showed on Monday.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index inched up to a seasonally adjusted 55.7 in September from a reading of 53.0 in August.
Analysts had expected the index to rise to 54.0 this month.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.09% to trade at 1.3534.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average fell 0.85%, the S&P 500 index declined 0.7%, while the Nasdaq Composite index shed 0.8%.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index inched up to a seasonally adjusted 55.7 in September from a reading of 53.0 in August.
Analysts had expected the index to rise to 54.0 this month.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the U.S. dollar held on to losses against the euro, with EUR/USD adding 0.09% to trade at 1.3534.
Meanwhile, U.S. equity markets were lower after the open. The Dow Jones Industrial Average fell 0.85%, the S&P 500 index declined 0.7%, while the Nasdaq Composite index shed 0.8%.