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Midwest business expands more than expected in Dec

CHICAGO | Fri Jan 29, 2010 10:44am EST

CHICAGO (Reuters) - Business activity in the U.S. Midwest expanded much more than expected in December, a report showed on Friday.

The Institute for Supply Management-Chicago business barometer rose to 61.5 from 58.7 in November.

Economists forecast the index at 57.4. A reading above 50 indicates expansion in the regional economy.

The employment component of the index rose to 59.8 from 47.6 in November. New orders rose to 66.4 from 63.5.

(Reporting by Ann Saphir; editing by Jeffrey Benkoe)
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