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Chicago Purchasing Managers Say Activity Accelerated

Business activity in the U.S. unexpectedly accelerated in October, signaling corporate and consumer spending are holding up after the economy expanded at a faster pace in the third quarter.

The Institute for Supply Management-Chicago Inc. said today its business barometer rose to 60.6 this month from 60.4 a month earlier. Figures greater than 50 signal expansion. Output climbed at the fastest pace in five years.