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Chicago PMI holds steady at 58.9 in August

A gauge of Chicago-area economic activity held steady in August, after retreating from a 3-year high in the prior month.
The Chicago PMI remained at 58.9 for the second straight month, MNI Indicators said Thursday. Any reading above 50 indicates improving conditions.

Economists had expected a slight pull back in August. The index slowed a bit in July after a run of five straight monthly increases that resulted in a 3-year high in June.

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