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Midwestern Manufacturing Activity Highest Since May

workers, manufacturing, factory, employment, employees


The pace of business activity in the U.S. Midwest in August rebounded more than expected from the month before, signaling a pickup in that region's economy, a report showed on Friday.

The Institute for Supply Management-Chicago business barometer shot up to a three-month high of 64.3 in August from 52.6 in July. Economists were looking for a July reading of 56.0.

It was the index's biggest monthly point gain since July 1983 and marked a sharp recovery from July's reading, which had marked a 13-month low.

(Reporting by Dan Burns; Editing by Meredith Mazzilli)