Chicago Manufacturing Continues To Grow

Chicago, IL, July 29, 2011 -- The Chicago Purchasing Managers Index slowed to a reading of 58.8 in July from 61.1 in June, indicating that the pace of growth in manufacturing is slowing.

However, it marked the 22nd month the indicator was above the 50 line indicating expansion.

Economists had expected a 61.9% reading.

Indexes for production and new orders fell, while order backlogs bounced back into positive territory. The employment index fell to 51.5 from 58.7.