Business activity in the Chicago area remained robust in September, even as production and new orders slowed from August, a new report showed on Tuesday.
The Chicago Business Barometer suggests the U.S. economy is growing at a healthy clip, according to data released by the Institute for Supply Management-Chicago Inc.
The Chicago Business Barometer fell to 60.5 in September from 64.3 in August.
The decline was greater than some had anticipated. A median forecast of 46 economists surveyed by Bloomberg was 62, with estimates ranging from 58 to 65, Bloomberg reported.
A reading above 50 indicates business activity is expanding.
Companies added to their inventories of finished goods at the fastest pace since February 1973, according to the report. Feedback from firms surveyed suggested they are expecting an increase in orders, the report said.
Production and new orders slowed in September, while employment rose.