Economy
August 29, 2014
Chicago Business Barometer Bounces Back in August
Written by Sandy Williams
The Chicago Business Barometer rebounded in August to 64.3, gaining 11.7 points and making up the decline in July’s Purchasing Manager Index (PMI). The August jump confirmed that July’s weakness was only temporary, according to Philip Uglow, Chief Economist at MNI Indicators.
Production rose by 20 points to its greatest monthly increase in ten years. New orders and backlogs regained and exceeded the points lost in July. Employment was lower for the month but remained in growth territory above a reading of 50.
