Growth Slows in Chicago Area Manufacturing

Chicago, IL, Oct. 31, 2011 -- Growth in Chicago area manufacturing slowed in October, according to the Chicago business barometer, also widely known as the Chicago PMI.

The index edged back to a 58.4% reading in October from 60.4% in September, inline with economists' estimates.

The employment index was the highest in six months and order backlogs moved back above the 50-expansionary threshold, but new orders declined to 61.3% from 65.3%.