Manufacturing in Chicago Area Expands at Fastest Rate in a Year
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Business activity in the Chicago area expanded in October at the fastest pace in a year, a sign manufacturing is overcoming a global slowdown and is contributing to growth in the world’s largest economy.
The Institute for Supply Management-Chicago Inc.’s business barometer rose to 66.2, the highest since October 2013, from 60.5 in the prior month, according to a report today. A reading greater than 50 signals growth. The median forecast of 48 economists surveyed by Bloomberg was 60.