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Chicago PMI surges more than expected

Akin OyedeleOct 30, 2015, 19:15 IST

The latest reading on manufacturing and services activity in the Midwest region crushed expectations.

The Chicago purchasing manager's index came in at 56.2, the highest since January.

Economists had estimated that the PMI 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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