Chicago Index Jumps to Highest Since March 2011 on Orders
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Business activity expanded in October at the fastest pace since March 2011 as orders and production surged, indicating U.S. manufacturing is gaining traction and will help fuel the world’s biggest economy.
The MNI Chicago Report business barometer jumped to 65.9 from 55.7 in September, the biggest monthly increase in more than three decades. Readings above 50 signal expansion. The index exceeded the most optimistic estimate in Bloomberg survey, in which the median projection was 55. A gauge of orders advanced to the highest level in nine years.