Chicago Purchasing Managers Survey Holds Near 2 Year High

June Chicago Purchasing Manager survey coming in at 60.2 (consensus 58) in June, down only marginally from the rise to 61.7 in May. Any reading greater than 50 indicates growth. The Chicago survey includes U.S. and international operations, so is more broad based than other surveys, and members do not have to be located in the Midwest.

Prices paid eased back to 68.1 from a high of 70.2 in May. Almost all of the subcomponents eased from their May levels, except for inventory levels, which rose to 55.9. Every category though is running above its six month average, as corporate spending re-emerges following the inventory reductions seen earlier this year.