Chicago PMI Shows Slower Business Expansion

Chicago, IL, Aug. 31, 2012 -- The Chicago Purchasing Managers Index for August slowed slightly to a reading of 53.0 in August from 53.7 in July.

The reading was in line with market forecasts.

The gauges for production and new orders climbed, though the order backlogs fell to 41.7 from 52.8.

Any reading above 50.0 indicates expansion.

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