The Chicago Purchasing Managers’ Business Barometer rose to 56.1 in November from 54.2 in October, 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 53.7 reading.
The production index fell to 57.6 from 63.9, the new orders index grew to 62.8 from 61.4, the order backlogs index increased to 46.5 from 41.9 in the prior survey and inventories rose to 34.9 from 32.2. The employment index jumped to 41.9 from 38.3, while and the supplier deliveries index was at 57.4, up from 50.7 in October. The prices paid index increased to 52.6 from 48.6.
