Investing.com - Manufacturing activity in the Chicago-area expanded at a faster rate than expected in February, hitting an 11-month high, industry data showed on Thursday.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index rose to a seasonally adjusted 56.8 in February from a reading of 55.6 in January.
Analysts had expected the index to dip to 54.3 in February.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.18% to trade at 1.3113.
Meanwhile, U.S. equity markets remained held on to mild gains after the open. The Dow Jones Industrial Average rose 0.15%, the S&P 500 index added 0.3%, while the Nasdaq Composite index advanced 0.4%.
In a report, market research group Kingsbury International said its Chicago purchasing managers’ index rose to a seasonally adjusted 56.8 in February from a reading of 55.6 in January.
Analysts had expected the index to dip to 54.3 in February.
On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Following the release of the data, the U.S. dollar remained higher against the euro, with EUR/USD shedding 0.18% to trade at 1.3113.
Meanwhile, U.S. equity markets remained held on to mild gains after the open. The Dow Jones Industrial Average rose 0.15%, the S&P 500 index added 0.3%, while the Nasdaq Composite index advanced 0.4%.