Investing.com - Growth in business activity in the Chicago region picked up, albeit at a slower than expected pace in April, according to data released on Monday.
MNI Indicators said its Chicago business barometer rose to 57.6 from 57.4 the previous month.
Economists had expected the barometer to rise to 58.2.
On the scale any reading above 50 indicates improving conditions.
The Chicago purchasing managers’ index measures business conditions across the Midwestern states of Illinois, Indiana and Michigan and is seen as an indicator for U.S. manufacturing activity.