NEW YORK - The Chicago Purchasing Managers’ Business Barometer rose to 62.5 in November from 60.6 in October, the National Association of Purchasing Management-Chicago said Tuesday.
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 60.0 reading for the indicator.
The production index rose to 71.3 from 69.8, its highest level since February 2005, the new orders index increased to 67.2 from 65.0, the order backlogs index inched down to 48.9 from 49.2 in the prior survey and inventories slid to 48.4 from 54.9. The employment index increased to 56.3 from 54.6; and the supplier deliveries index was at 60.4, off from 62.8 last month. The prices paid index grew to 70.7 from 68.9.
