Chicago purchasing managers index unexpectedly rises to 15-month high

The U.S. economy ended November on a positive note, as the Chicago purchasing managers index unexpectedly rose to 56.1 from 54.2 in October, the Institute for Supply Management-Chicago announced Monday, according to Bloomberg News. It was the highest reading for the index since August 2008.

A Bloomberg News survey had expected the Chicago PMI to fall to 53.0 in November. Readings above 50 indicate an expansion; below 50, a contraction. The Chicago PMI totaled 46.1 in September and 50 in August.