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Chicago April PMI seen lower on auto woes

CHICAGO
Wed Apr 30, 2008 10:44am EDT

CHICAGO (Reuters) - Business activity in the U.S. Midwest probably contracted for a third consecutive month in April, and at a slightly more severe rate, said economists polled by Reuters.

The median forecast of 64 economists put the National Association of Purchasing Management-Chicago's index at 47.5, down from a slightly less weak than expected 48.2 in March. Estimates ranged from 45.0 to 50.0.

Weakness could partly reflect the ongoing strike at auto parts supplier American Axle, which started in late February.

General Motors Corp has partially idled about 30 plants in North America due to parts shortages resulting from the two-month strike.

(Reporting by Ros Krasny; Editing by Andrea Ricci)



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