Chicago PMI fell to 58.9 in July from 65.7 in June, lowest level in three months

"The MNI Chicago Business Barometer fell to 58.9 in July from 65.7 in June, the lowest level in three months," the ISM-Chicago announced on Monday.

Key highlights: 

• While marking the seventeenth above-50 reading, July’s fall snapped a run of five straight monthly increases in business optimism
• The fall in sentiment was broad-based in July, though particularly concentrated across both demand and output
• New orders fell by 11.6 points to 60.3, the lowest level since February, while Production fell 6.9 points to 60.8, the lowest since April
• Employment indicator slipped for the second straight month in July, following up June’s 0.5 point drop with a further 4.0 point drop this month