Published September 30, 2015 9:48am EDT | Updated September 30, 2015 10:04am EDT

Chicago PMI Slides Into Contraction Territory In September

A measure of Chicago-area manufacturing dropped sharply into contraction territory in September, according to data released by MNI Indicators. The Chicago PMI fell to 48.7 in September from 54.4 in August, on a scale where readings below 50 indicate deteriorating activity. MNI said production growth collapsed and new orders fell sharply.