Midwest Business Activity Growth Slows: Chicago PMI
By: Reuters With CNBC.com
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Workers assemble an engine at the manufacturing plant of German car maker Adam Opel GmbH.
The pace of business activity in the U.S. Midwest slowed in March as the new order rate pulled back, a report showed on Thursday.
The Institute for Supply Management-Chicago business barometer fell to 52.4 from 56.8 in February, shy of economists' expectations for 56.5.
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A reading above 50 indicates expansion in the regional economy.
The gauge of new orders slipped to 53.0 from 60.2, while the employment component edged down to 55.1 from 55.7.
The pace of business activity in the U.S. Midwest slowed in March as the new order rate pulled back, a report showed on Thursday.
