India, July 31 -- Chicago-area business activity unexpectedly increased at a slightly faster rate in the month of July, according to a report released by MNI Indicators on Friday.
MNI Indicators said its Chicago business barometer rose to 57.6 in July from 56.7 in June, with a reading above 50 indicating growth. Economists had expected the index to edge down to 56.0.
The unexpected uptick by the headline index largely reflected stronger new orders, as the new orders index spiked by 11.6 points.
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