Research >> Economics
Chicago Purchasing Managers Index increased to 53.0
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The Chicago Business Barometer increased to 53.0 in August from 52.3 in July, led by an increase in New Orders and a second monthly gain in Order Backlogs. Order Backlogs, though, remained in contraction after a record plunge in June.
The August data showed a second month of stabilization in the Barometer compared with the erratic moves seen in the second quarter. This stability came, however, at fragile levels leaving the Barometer within striking distance of the breakeven 50 level, and below the average seen over the past 10 years of 55.9.
Production, Employment and Supplier Deliveries all fell between July and August, although all remained above 50. Production was down for the third consecutive month while Employment slowed for a second month in August.
Inventories continued to contract, but at a slower pace than in July and Prices Paid rose for a fourth consecutive month.
Little change in Supplier lead times contrasted with significant lengthening in Buying Policies for Production Materiel and Capital Equipment in August.
A pick-up in New Orders helped push the Barometer slightly higher in August, but activity still remains below trend.
- New Orders and Backlog increases support Barometer
- Production, Employment, Supplier Deliveries all slip
Posted: August 30, 2013 Friday 09:45 AM