India, Sept. 30 -- A report released by MNI Indicators on Wednesday showed a substantial rebound by its reading on Chicago-area business activity in the month of September.
MNI Indicators said its Chicago business barometer spiked to 58.8 in September from 47.1 in August, with a reading above 50 indicating growth. Economists had expected the index to jump to 51.0.
The bigger than expected rebound by the headline index came as the production index soared by 15.5 points, returning to expansionary territory and reaching its highest level since May.
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