FX.co ★ U.S. Chicago PMI Slumps to 47.1 in August, Sliding into Contraction Territory

The Chicago Purchasing Managers’ Index (PMI) for the United States fell sharply in August to 47.1, down from 57.6 previously, according to data updated on 31 August 2026. The drop of more than 10 points marks a notable shift from solid expansion to contraction in business activity in the Chicago region.

A PMI reading above 50 typically signals expansion, while a reading below 50 indicates contraction. August’s 47.1 result therefore points to a cooling in regional manufacturing and related business conditions after the prior period’s stronger performance at 57.6. Market participants and analysts will be watching upcoming data closely to assess whether this marks the start of a broader slowdown or a short‑term pullback in activity.