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(CEP News) - Business activity in the Chicago area climbed more than economists expected in April, with the Chicago Purchasing Managers Index up to 40.1, against expectations of a 35.0 reading.
The index came in at 31.4 in March. The largest climb was in order backlogs, up to 36.9 from 21.3. New orders climbed to 42.1 from 30.9. Falling inflation continues, with the prices paid component dropping to 28.4 from 34.1. Production was up to 38.1 from 32.7. Inventories dropped to 30.6 from 34.9, and the employment component improved to 31.8 from 28.1. By Megan Ainscow,
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, edited by Sarah Sussman,
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