Business activity in the U.S. Midwest grew faster than expected in November, helped in part by stronger employment, a report showed Tuesday.
The Institute for Supply Management-Chicago business barometer rose to 62.5 in November. The reading was 60.6 in October. Economists had forecast a November reading of 60.0.
The employment component of the index rose to 56.3 from 54.6 in October. New orders rose to 67.2, from 65.0. A reading above 50 indicates expansion in the regional economy.