Chicago PMI at 54.4 in Aug vs 54.5 reading expected

Business activity in the U.S. Midwest declined modestly in August and fell just short of expectations, but showed expansion in the region for the second consecutive month, a report showed on Friday.

The Chicago Business Barometer for August was 54.4, according to the MNI Chicago Report. Economists had forecast the index at 54.7 for August, matching July's reading of 54.7, which was a six-month high. A reading above 50 indicates expansion in the sector.

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