The Chicago Purchasing Managers’ Business Barometer rose to 60.4 in September from 56.5 in August, the National Association of Purchasing Management-Chicago said Friday.
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 56.6 reading for the indicator.
The production index rose to 63.9 from 57.8, the new orders index increased to 65.3 from 56.9, the order backlogs slid to 45.4 from 49.6 in the previous survey, and inventories rose to 60.3 from 52.9.
The employment index increased to 60.6 from 52.1 and the supplier deliveries index was at 51.9, down from 60.5 last month. The prices paid index fell to 62.3 from 68.6.