The Chicago Purchasing Managers’ Business Barometer fell to 46.1 in September from 50.0 in August, 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 Thomson Reuters predicted a 52.0 reading for the indicator.
The production index fell to 47.2 from 52.9, the new orders index slid to 46.3 from 52.5, the order backlogs index decreased to 36.7 from 45.8, and inventories rose to 38.9 from 27.5.
The employment index climbed to 38.8 from 38.7 and the supplier deliveries index was at 49.3, off from 54.6 last month. The prices paid index increased to 51.3 from 50.0.