The Chicago Purchasing Managers' Index (PMI) plummeted by 10.5 points in August, reaching a level of 47.1. This reading signals a return to contraction for business activity in the region and represents the lowest point for the index since December 2025.
This movement constitutes the largest single-month decline for the manufacturing sector since the 2020 pandemic. The drop to 47.1 highlights a significant reversal in momentum for the Chicago-area industrial economy.