Chicago PMI Slips to 49.0 in April from 52.4 in March

The Chicago Purchasing Managers' Business Barometer fell to 49.0 in April from 52.4 in March, 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 52.5 reading for the index.

The production index dropped to 49.9 from 51.8, the new orders index increased to 53.2 from 53.0, the order backlogs fell to 40.6 from 45.0 in the prior survey and inventories slumped to 40.6 from 41.0. The employment index dipped to 48.7 from 55.1; and the supplier deliveries index was at 47.9, off from 58.0 last month. The prices paid index sank to 51.0 from 61.0.

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