It was 46.6 in September, but 41.6 in October for the Chicago Business Barometer, which is also called the Chicago PMI.
According to a study by the Wall Street Journal, economists thought the reading would go up a little, to 46.8.
For eleven months in a row, the Chicago PMI has been below the 50 mark, which is the point where growth and contraction meet. From a low point of 35.4 in May, it has gone up a bit. Production has been slowed down by the strike at Boeing Co. BA-3.86% that is still going on.
The ISM-Chicago puts together the Chicago PMI with help from MNI. It comes out three minutes before it does for everyone else, at 9:45 a.m. Eastern time. On Friday, the national ISM manufacturing index for October will be made public. This is one of the last area manufacturing indexes to come out.
A low ISM factory index has been a sign of low demand. For 22 of the last 23 months, it has been less than the point where it breaks even.
The Wall Street Journal asked economists and found that they think the ISM factory index will rise from 47.2% in September to 47.6% in October.
Other regional Fed manufacturing surveys in early October have come in broadly consistent with another stable but sluggish ISM factory reading, economists said.
