Chicago Business Activity Continues To Expand

Chicago, IL, Sept. 30, 2008--Business activity in the Chicago region expanded at a healthy pace in September, according to a survey of corporate purchasing managers released Tuesday.

The Chicago purchasing managers index inched lower to 56.7 in September from 57.9 in August but stayed above the 53.0 expected by analysts. Readings above 50 indicate overall business expansion.

The Chicago PMI has rebounded after hitting a low of 40.5 in February. The Chicago PMI is considered a leading indicator to the national Institute for Supply Management manufacturers' survey to be released on Wednesday.