NEW YORK - The Chicago Purchasing Managers’ Business Barometer rose to 54.2 in October from 46.1 in September, the National Association of Purchasing Management-Chicago said today.
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 48.9 reading for the indicator.
The production index rose to 63.9 from 47.2, the new orders index grew to 61.4 from 46.3, the order backlogs index increased to 41.9 from 36.7 in the prior survey and inventories fell to 32.2 from 38.9. The employment index dipped to 38.3 from 38.8; and the supplier deliveries index was at 50.7, up from 49.3 last month. The prices paid index decreased to 48.6 from 51.3.
