Chicago PMI shows slowing expansion in October (by Steve Goldstein)
WASHINGTON (MarketWatch) -- The Chicago business barometer, also widely known as the Chicago PMI, edged back to a 58.4% reading in October from 60.4% in September. The reading was exactly in line with a MarketWatch-compiled economist poll. 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%. The national Institute of Supply Management's manufacturing index is due for release Tuesday.