The Chicago Purchasing Managers’ Business Barometer slid to a still contractionary 33.8 in November, its lowest level since April 1982, from 37.8 in October, the National Association of Purchasing Management-Chicago said Wednesday.
Economists polled by Thomson Reuters predicted a 36.5 reading for the indicator.
The production index improved to 34.3 from 30.9 in the prior survey, the new orders index fell to 27.2 from 32.5, the order backlogs index slid to 28.2 from 39.0, and inventories fell to 41.2 from 56.5. The employment index decreased to 33.4 from 41.5, and the supplier deliveries index was at 48.4, up from 47.5 last month. The prices paid index declined to 50.7 from 53.7.