NEW YORK - The Chicago Purchasing Managers’ Business Barometer rose to 60.4 in September from 56.7 in August, the National Association of Purchasing Management-Chicago said Thursday.
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 55.9 reading for the indicator.
The production index rose to 64.3 from 57.6, the new orders index increased to 61.4 from 55.0, the order backlogs index decreased to 49.1 from 56.2 in the prior survey and inventories rose to 49.5 from 46.5. The employment index decreased to 53.4 from 55.5; and the supplier deliveries index was at 58.4, down from 61.2 last month. The prices paid index declined to 55.0 from 57.2.
