Chicago Purchasing Manager

The survey of Chicago-area manufacturing activity fell more than expected in August to 56.7 from 62.3 in July, exceeding median estimates of a decline to 57.0.  The reading above 50 marked the eleventh consecutive month in expansionary territory.  The survey’s employment measure dropped to 55.5 in August from 56.6, while the gauge of new orders declined to 55 from 64.6.  Inventories dropped back below 50, falling 4.3 points to 46.5.

Summary: Business activity in the Chicago area is generally a telling indication of the national ISM data.  While activity remains in expansion mode, the trend for the past 5 months has been slowing.  August’s reading was the slowest this year.

» More Economic Indicators