CHICAGO, Aug. 30 (UPI) -- The Chicago Business Barometer rose 0.7 points in August to reach 53, the Institute for Supply Management said Friday.
The business index, which covers Illinois, Indiana and Michigan, was supported by gains in new orders and the second consecutive increase in backlogged orders, ISM said.
The index, released in conjunction with the Deutsche Borse Group, indicates business growth with numbers above 50. The overall index rose although indexes for production, employment and supplier deliveries all slid during the month.
Each of those components still came in above 50, the Institute said, but the production index slipped for the third consecutive month.