Chicago area Manufacturing expands at slow rate

The Chicago purchasing managers’ index was about in line with forecasts, slowing to 56.7 in August from 62.3 in July.

BOTTOM LINE

Manufacturing continued to expand in the Chicago region in August as production, orders, and employment continued to grow—albeit at a slower rate than in July. Inventories fell in August and delivery delays increased, which perhaps underscores the caution with which companies are operating in the current climate. Prices paid continued to rise, although also at a slower rate than July. We see no reason to change our view that the national ISM manufacturing index slowed to 52 in August.

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