Core Insights - The Chicago Business Activity Index for June has declined due to weak production and employment, indicating a contraction in economic activity for the 19th consecutive month [1] Group 1: Economic Indicators - The Chicago PMI fell from 40.5 in May to 40.4 in June, below the expected 43.0, marking the lowest level since January [1] - The decline in the index was driven by decreases in supplier delivery times, production, employment, and backlog of orders [1] - The proportion of respondents reporting a decrease in new orders has declined compared to May, suggesting some stabilization in demand [1] Group 2: Price Trends - The prices paid index has risen to its highest level since May 2022, with 70% of respondents indicating price increases in June, up from 57% in May [1]