Chicago, IL, June 30, 2006--Business activity in the Midwest expanded in June, but at a slower rate than expected, a report showed on Friday.
The National Association of Purchasing Management-Chicago business barometer fell to 56.5 from 61.5 in May. Economists had forecast the index at 59.0. A reading above 50 indicates expansion.
The employment component of the index fell to 50.4 from 52.8 in May. Prices paid surged to 89.0 from 76.9 and new orders dipped to 57.2 from 69.6.
