The Chicago Purchasing Managers’ Business Barometer rose to a still contractionary 49.6 in June from 49.1 in May, the National Association of Purchasing Management-Chicago said yesterday.
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 IFR Markets predicted a 48.0 reading for the indicator.
The prices paid index dipped to 85.5 from 87.5. The employment index increased to 46.7 from 41.2 and the new orders index fell to 52.0 from 56.1. The supplier deliveries index was at 58.8, up from 51.0 last month.
The order backlogs index fell to 42.3 from 46.8 in the prior survey. The production index decreased to 45.1 from 51.5, and inventories rose to 50.5 from 42.2.