CHICAGO, July 29 (UPI) -- The Chicago Business Barometer dropped in July but showed business activity expanded for the 22nd consecutive month.
With numbers above 50 indicating expansion, the headline business barometer compiled by Kingsbury International Ltd. fell from 61.1 in June to 58.8.
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The index of business production in the Chicago area fell from 66.9 to 64.3. The index measuring new orders for manufacturers slid from 61.2 to 59.4, Kingsbury said.
Inventories index rose sharply from 46.9 to 53.2, perhaps indicating businesses had overestimated demand.
The employment index, which can indicate how business managers are forecasting future demand, tipped lower from 58.7 to just about break even at 51.5.
