Midwest Manufacturing Sector Grows Slower than Expected in September

A snapshot of economic activity in the manufacturing-heavy Midwest indicates businesses suffered a setback in September.

The Chicago Business Barometer, commonly known as the Chicago PMI, fell to 60.5 this month from August's 64.3. Any reading above 50 indicates expansion.

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A major setback in the new orders index, which fell to 60.0 in September from last month's 65.6, overwhelmed slight advances in the other major subindexes.