Chicago business activity grew much faster than expected
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The new orders and order backlogs indexes were little changed in September.
The bigger than expected increase by the barometer was driven by a sharp increase by the production index, which surged up by 7.3 points to 59.8, its highest level since January.
Meanwhile, the new orders and order backlogs indexes were little changed in September after leading the barometer's decline in August, with the latter failing to bounce back above the 50 breakeven level.
The report also said the employment index pulled back in September after rallying to a sixteen-month high in August. ■