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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