Chicago PMI Slips to 55.3 in October, Missing Forecasts and Falling from September High

The MNI Chicago Business Barometer fell to 55.3 in October, down from 58.8 in September and short of analyst forecasts that had centered on 55.8 to 56.0. The reading still signals expansion in business activity across the Chicago region, as any figure above 50 indicates growth, but the decline marks a notable pullback from September's four-month high.

The miss versus expectations suggests momentum in the Chicago-area manufacturing and business sector cooled heading into the final quarter of 2026. The October print follows a strong September rebound that had lifted the barometer from earlier softness, making the retreat a watch point for broader regional economic trends.