Chicago Purchasers’ Index Climbs to 13-Month High

Business activity in the U.S. unexpectedly expanded in October, a sign the economic recovery that began in the third quarter will persist in coming months.

The Institute for Supply Management-Chicago Inc. said today its business barometer increased to 54.2, the highest level in 13 months and exceeding the median forecast of economists surveyed by Bloomberg News, from 46.1 the prior month. Readings below 50 signal a contraction.

Companies are gearing up to meet demand after the economy grew in the July to September period after four consecutive quarters of contraction. A slower pace of inventory reduction and rising sales abroad due to more than $2 trillion in global government stimulus also signal more production.

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- Posted: 2009-10-30 10:50:41

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