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Chicago area factory activity picks up in August

A worker prepares to weld an aluminum case at the Aluminum Case Company in Chicago.
Tim Boyle | Bloomberg | Getty Images
A worker prepares to weld an aluminum case at the Aluminum Case Company in Chicago.

The pace of business activity in the Midwest increased in August and input prices hit a nine-month high, a report showed on Friday.

The Institute for Supply Management-Chicago business barometer rose to 53.0 from 52.3 in July, matching economists' expectations. A reading above 50 indicates expansion in the regional economy.

Prices paid rose to 65.2, a nine-month high, from 63.6. The gauge of new orders, however, rose to 57.2 from 53.9, while the employment component slipped to 54.9 from 56.6.


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