NEW YORK - The Chicago Purchasing Managers’ Business Barometer rose to 61.5 in January from 58.7 in December, 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 57.5 reading for the indicator.
The production index rose to 66.6 from 64.2, the new orders index grew to 66.4 from 64.4, the order backlogs index increased to 54.3 from 52.0 in the prior survey and inventories rose to 48.7 from 38.6. The employment index jumped to 59.8 from 47.6; and the supplier deliveries index was at 55.3, off from 57.0 last month. The prices paid index increased to 66.2 from 55.6.
