Chicago-Area Manufacturing Activity Expands in October

Manufacturing in the Chicago-area expanded in October for the sixth straight month, the National Association of Purchasing Management-Chicago said Friday.

NAPM's factory index increased to 55 from 51.2 in September. Readings above 50 signal expansion. Manufacturing is one of trucking's largest and most important customers.

The index was restrained by the biggest contraction in inventories since April of last year. Economists had forecast the Chicago index to rise to 56, Bloomberg reported.

The index of new orders rose to 59.2 this month from 53.2. The production index rose to 62 from 55.8, while the index of order backlogs fell to 47.3 from 50.7 in September.

The employment index rose to 53.1, the highest since 54.6 in January 2000, from 45.3. However, the inventories index slumped to 38.1 from 52.8.

The Institute for Supply Management releases its index of U.S. manufacturing on Monday.