NEW YORK - The Chicago Purchasing Managers’ Business Barometer rose to 68.8 in January from 66.8 in December, the National Association of Purchasing Management-Chicago said Monday.
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 65.0 reading for the indicator.
The production index rose to 73.7 from 72.2, the new orders index increased to 75.7 from 71.3, the order backlogs index gained to 60.6 from 60.1 in the prior survey and inventories slipped to 54.5 from 60.0. The employment index increased to 64.1 from 58.4; and the supplier deliveries index was at 59.8, off from 63.2 last month. The prices paid index grew to 81.7 from 78.0.
