Chicago-area business activity unexpectedly expanded at a faster rate in the month of July, according to a report released by the Institute for Supply Management - Chicago on Tuesday.
The ISM Chicago said its business barometer rose to 53.7 in July from 52.9 in June, with a reading above 50 indicating an increase in business activity.
The modest increase by the business barometer came as a surprise to economists, who had expected the index to edge down to 52.5.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.