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Chicago Manufacturing Index Rose to Seven-Month High in May

Bloomberg (05/30/14) Victoria Stilwell

Business activity in the Chicago area as measured by the Institute for Supply Management-Chicago Inc.’s business barometer increased to 65.5 in May from 63 the previous month, a seven-month high. The 46 economists surveyed by Bloomberg had predicted a reading of 61. There has been growing demand for durable goods, though faster gains in the labor market will be needed to create more wage growth, boost consumer purchases, and fuel more factory orders.