NEW YORK - The Chicago Purchasing Managers’ Business Barometer rose to 52.9 in June, from 52.7 in May, 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 52.9 reading for the indicator.
The production index jumped to 57.0 from 50.0, the new orders index decreased to 51.9 from 52.9, the order backlogs dropped to 42.2 from 46.3 in the prior survey and inventories rose to 53.5 from 49.4. The employment index increased to 60.4 from 57.0; and the supplier deliveries index was at 54.2, down from 56.2 last month. The prices paid index slid to 54.0 from 60.4.