Chicago PMI rises more than expected in April

A worker making parts for commercial coffee grinding equipment at the Modern Process Equipment manufacturing facility in Chicago.
Tim Boyle | Bloomberg | Getty Images

The Institute for Supply Management-Chicago Business Barometer jumped more than expected in April, building on the previous month's modest rise.

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The measure hit 52.3 this month, compared with the March reading of 46.3. Analysts polled by Reuters were looking for a reading of 50.0.

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