Chicago PMI holds steady in August
The Chicago Business Barometer, also known as the Chicago PMI, inched up to 52.2 in August from 52.1 in the prior month.
Economists polled by the Wall Street Journal forecast a 52 reading.
Supplier deliveries eased to the lowest level since July 2020. New orders and production improved in August. Price pressures remained acute.
The Chicago PMI is the last of the regional manufacturing indices before the national ISM data for July is released on Thursday.
Overall, other regional surveys for August are suggesting a moderation in the ISM factory index, although it is expected to remain in expansionary territory, according to Rubeela Farooqi, chief U.S. economist at High Frequency Economics.
Economists surveyed by the Wall Street Journal expect the ISM factory index to slip to 51.8% in August from 52.8% in the prior month.
