Chicago, IL, September 29, 2006-- Business activity expanded at a rapid rate in the Chicago region in September, the NAPM-Chicago reported Friday.
The Chicago purchasing managers' index rose to 62.1% in September from 57.1% in August. It's the highest reading in a year.
Readings over 50% indicate that most firms surveyed are reporting growth.
Economists were expecting a decline to about 55.7% in September.
The new orders index rose to 67.3% from 59.6%, while the production index rose to 67.4% from 61.7%.
The strong reading points to a robust level in the national sentiment index to be released Monday by the Institute for Supply Management.
