Chicago PMI at 55.6 vs 45.0 reading expected

A worker prepares parts to be assembled for industrial coffee grinding equipment at the Modern Process Equipment manufacturing facility in Chicago.
Tim Boyle | Bloomberg | Getty Images
A worker prepares parts to be assembled for industrial coffee grinding equipment at the Modern Process Equipment manufacturing facility in Chicago.

The Chicago Purchasing Managers Index came in at 55.6 for January, the highest reading since last January.

Economists polled by Reuters had expected 45.0, up from 42.9 a month earlier. A reading above 50.0 indicates expansion in the sector.