Chicago PMI Shows Expansion (AA, X)

The Chicago PMI in August was 56.7 versus the 57.0 consensus estimate. In July the reading was 62.3. A reading over 50 indicates expansion in the sector. The employment component of the index fell to 55.5 from 56.6 in July. New orders fell to 55.0 from 64.6 in July. The Chicago PMI survey registers manufacturing and non-manufacturing in the Chicago region. Shares of Alcoa AA and U.S. Steel X are higher on the day by 0.88% and 3.3%, respectively.