Chicago PMI Edges Higher in October

Chicago, IL, Oct. 31, 2012 -- The Chicago Purchasing Managers Index edged up in October to 49.9% from 49.7% in the prior month.

Readings below 50% indicate contraction. The new-orders index rose to 50.6% from 47.4%, but the production gauge fell to 51.8% from 55.4% and the inventories component dropped to 49.6% from 51.1%,

The employment index, meanwhile, fell to a 33-month low of 50.3%. Also, the prices paid component slipped to 59.3% from 63.2%.