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U.S. Business Activity Expands

Expected to drop, orders and production pick up in June.

By Shobhana Chandra, Bloomberg | Updated on June 30, 2011

Business activity in the U.S. unexpectedly expanded at a faster pace in June as orders and production picked up, signaling manufacturing will keep driving growth in the world’s largest economy.

The Institute for Supply Management-Chicago Inc. said today its business barometer climbed to 61.1 this month from 56.6 in May. Economists called for the index to drop to 54, according to the median forecast in a Bloomberg News survey. Figures greater than 50 signal expansion.

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