CHICAGO (Dow Jones) – The mood in the company in the Chicago area has deteriorated more than expected in August .
The association of purchasing managers in Chicago on Tuesday reported a decline in the index of business activity to a seasonally adjusted 56.7 points. Economists surveyed by Dow Jones Newswires had forecast a level of 57.6 in the run . In July the figure was 62.3 . Values above 50 points indicate an expansion, including figures on a contraction in manufacturing in the region.
As the association announced on, the index was for production to 57.6 (previous month : 65.0 ), the index for new orders was reported as 55.0 (64.6 ). For the employment index , a value of 55.5 (56.6 ) has been recorded . The index for prices paid fell to 57.2 , according to the data (58.1 ).
The purchasing managers index for the Chicago region is of observers pay special attention , as it as reflecting the national purchasing managers’ index of the Institute for Supply Management ( ISM) allows. However, the Chicago region is mainly dominated the U.S. auto industry , why can observe a correlation is not always consistently .
Web sites: http://www.napm-chicago.org
DJG / DJN / apo / ISJ