FX.co ★ Chicago PMI Drops to 55.3 in October, Signaling Cooling Midwest Activity

The Chicago Purchasing Managers’ Index (PMI) for the United States declined in October 2026, pointing to a moderation in Midwest business activity. The index fell to 55.3 in October from 58.8 in September 2026, according to data updated on 30 October 2026.

Despite the decline, the October reading of 55.3 remains above the 50-point threshold that separates expansion from contraction, indicating that the regional economy is still growing, albeit at a slower pace than in the previous month. The step down from September’s 58.8 suggests some easing in momentum after a stronger late-summer performance.

Market participants and analysts will be watching upcoming data to assess whether October’s move represents a temporary cooling or the start of a broader slowdown in regional manufacturing and business conditions in the Chicago area and the wider Midwest.