The Chicago Purchasing Managers’ Business Barometer rose to 49.9 in October from 49.7 in September, the National Association of Purchasing Management-Chicago said Wednesday.
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.
The production index dipped to 51.8 from 55.4, the new orders index increased to 50.6 from 47.4, the order backlogs gained to 44.3 from 41.6 in the prior survey and inventories fell to 49.6 from 51.1. The employment index dropped to 50.3 from 52.0; and the supplier deliveries index was at 50.4, down from 52.1 last month. The prices paid index slid to 59.3 from 63.2.