NEW YORK - The Chicago Purchasing Managers’ Business Barometer fell to 59.1 in June from 59.7 in May, 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 58.5 reading for the indicator.
The production index rose to 64.2 from 61.0, the new orders index fell to 59.1 from 62.7, the order backlogs index decreased to 50.7 from 52.7 in the prior survey and inventories fell to 46.5 from 56.4. The employment index decreased to 54.2 from 49.2; and the supplier deliveries index was at 60.7, down from 65.1 last month. The prices paid index declined to 61.9 from 64.0.
