Economics
Chicago Index Unexpectedly Jumps to Highest Level in a Year
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Business activity in the U.S. rebounded in May after declining for the first time in more than three years last month, a sign manufacturing may contribute to economic growth this quarter.
The MNI Chicago Report’s business barometer rose to 58.7, exceeding all forecasts in a Bloomberg survey and the highest since March 2012, from 49 in April. A reading greater than 50 signals expansion. The median forecast of 54 economists polled was 50.