Forexpros – Manufacturing activity in the Chicago area fell less-than-expected in August but still slumped to the lowest level since November 2009, industry data showed on Wednesday.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index fell to a seasonally adjusted 56.5 in August from 58.8 in July.
Analysts had expected the index to decline to 54.8 in August.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
According to the data, the Production Index posted the second largest decline of 2011 in August, while the Order Backlogs Index fell below 50.0 for the second time this year.
The Prices Paid Index eased for the fifth time in the last eight months.
Following the release of the data, the U.S. dollar was fractionally higher against the euro, with EUR/USD easing down 0.02% to trade at 1.4439.
Meanwhile, U.S. equity markets were broadly higher after the open. The Dow Jones Industrial Average jumped 1%, S&P 500 rose 1.2%, while the Nasdaq 100 Index advanced 0.95%.
