NEW YORK - The Chicago Purchasing Managers’ Business Barometer rose to 63.8 in April from 58.8 in March, 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 60.0 reading for the indicator.
The production index rose to 63.1 from 60.5, the new orders index rose to 65.2 from 61.8, the order backlogs index increased to 61.4 from 54.3 in the prior survey and inventories fell to 50.1 from 52.4. The employment index increased to 57.2 from 53.1; and the supplier deliveries index was at 64.9, up from 57.8 last month. The prices paid index increased to 71.4 from 66.6.
