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Tuesday, July 31, 2007

Chicago Purchasers Index Falls as Orders, Output Slow

" A measure of U.S. business activity fell more than forecast in July, adding to doubts that corporate investment will continue to grow.

The National Association of Purchasing Management-Chicago said today its business barometer fell to 53.4, from 60.2 in June. Readings greater than 50 signal expansion.

Measures of new orders and production both fell, indicating companies are curbing spending as consumer demand slows. That would be a further drag on the economy as it continues to confront weakness in the housing market. "

Source: Chicago Purchasers Index Falls as Orders, Output Slow (Update1) (http://www.bloomberg.com/apps/news?pid=20601087&sid=apDlO8BTUDU0&refer=home)