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Economy

Chicago Purchasing Managers Showing Some Growth

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By Douglas A. McIntyre Updated Published
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Chicago Skyline ImageThe reading for Chicago Purchasing Managers for August is now back in positive territory.  The adjusted August figure is 50.0 vs. 43.4 in July.  A reading above 50.0 is growth, a reading under 50 is contraction.  Bloomberg had a consensus reading expected at 48.0, and this apparently matches the highest expectation of all economists surveyed.

The real jump here is in inflation as the Prices Paid component was 50.0 vs. 35.0 in July.  The other area is in new orders, which came in at 52.5 vs. 48.0 in July.  Supplier deliveries also came in 54.6 vs. 49.6 in July.

Employment did gain but was still the worst part of the reading.  The employment component came in at 38.7, well under the 50.0 benchmark but also above the 35.3 July level.

JON C. OGG

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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