Chicago PMI Rises By More Than Expected In August

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Activity in the Chicago-area manufacturing sector unexpectedly reached neutral territory in August following ten consecutive months of contraction, according to a report released by the Institute for Supply Management - Chicago on Monday.

The ISM - Chicago said its index of manufacturing activity rose to 50.0 in August from 43.4 in July, with a reading of 50 acting as the breakeven point versus contraction and expansion. Economists had been expecting a more modest increase to a reading of 48.0.

Activity in the Chicago-area manufacturing sector unexpectedly reached neutral territory in August following ten consecutive months of contraction, according to a report released by the Institute for Supply Management - Chicago on Monday. (Market News Provided by RTTNews)