CORRECTED-UPDATE 1-US Midwest business barometer hits 5-yr high

(Corrects to “U.S. Midwest” in first paragraph)

CHICAGO, April 30 (BestGrowthStock) – Business activity in the U.S.
Midwest expanded more than expected in April as orders rose and
employment gained, a report showed on Friday.

The Institute for Supply Management-Chicago business
barometer jumped to 63.8 in April, the highest level since
April 2005. The reading was 58.8 in March, and economists had
forecast an April reading of 60.

The figure may add to a growing consensus that the United
States’ economic recovery is gaining some steam after the worst
downturn since the Great Depression.

“The pipeline for manufacturing is filling up,” said John
Brady, a vice president at MF Global in Chicago. “Manufacturing
is on track, and continues to expand, albeit slowly.”

The employment component of the index rose to 57.2 from
53.1 in March. New orders rose to 65.2 from 61.8.

A reading above 50 indicates expansion in the regional
economy.

Penny Stocks
(Reporting by Ann Saphir; Editing by James Dalgleish and
Patrick Graham)

CORRECTED-UPDATE 1-US Midwest business barometer hits 5-yr high