Chicago PMI Business Index Falls Slightly To 54.4 In August

The Chicago PMI, or business barometer index, fell slightly in August but showed that the economy in the Midwest continued to grow at a moderate pace toward the end of summer. MNI Indicators said the index slipped to 54.4 points in August from 54.7 in July. Any number above 50 signals economic expansion. This is the last of the regional manufacturing gauges before the release of the national Institute for Supply Management poll on Tuesday.