The Chicago Purchasing Managers (PMI) reported the Chicago Business Barometer rebounded in September, expanding once again for the 24th consecutive month. September saw business index levels not seen since June 2011. Production was also up from August, showing approximately a 6 pt. climb in index levels. New orders gained traction with the largest month-to-month expansion since October 2009, according to PMI’s report.

On the flip side, order backlogs retreated once again to a 23-month low of 45.4. Inventories and employment reported large gains while supplier deliveries saw declines. Prices paid are down again in September.

For buying policy, it is a 10-month high of 40.6. M.R.O. supplies saw a small increase while capital equipment lead times declined a significant amount.