The Chicago Purchasing Managers’ Business Barometer rose to a still contractionary 34.1 in December, its lowest level since April 1982, from 33.8 in November, the National Association of Purchasing Management-Chicago said yesterday.
The data is compiled on a seasonally adjusted basis. An index reading below 50 signals a slowing economy, while a level above 50 suggests expansion.
Economists polled by Thomson Reuters predicted a 33.0 reading for the indicator.
The production index declined to 31.7 from 34.3, the new orders index rose to 29.4 from 27.2, the order backlogs index slid to 25.6 from 28.2 in the prior survey, and inventories fell to 36.4 from 41.2. The employment index increased to 39.6 from 33.4; and the supplier deliveries index was at 48.5, up from 48.4 last month. The prices paid index declined to 30.5 from 50.7.
