The latest reading on manufacturing and services activity in the Midwest region crushed expectations.
The Chicago PMI came in at 56.2, the highest reading since January.
Economists had estimated that the Chicago purchasing manager’s index was 49.4 in October, up from 48.7 in the prior period.
The business barometer is a survey of manufacturers and servicers in the area, with a split of about 60/40 respectively.
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Source: businessinsider.com
Chicago PMI surges more than expected (USD)
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