Feb. Chicago PMI at 34.2, Up From 33.3 in January

The Chicago Purchasing Managers’ Business Barometer rose to 34.2 in February from 33.3 in January, the National Association of Purchasing Management-Chicago said Friday.

Economists polled by Thomson Reuters predicted a 33.0 reading for the indicator.

The production index improved to 34.7 from 29.7, the new orders index slid to 30.6 from 30.7, the order backlogs index rose to 29.3 from 26.5, and inventories fell to 33.0 from 38.0. The employment index decreased to 25.2 from 34.8 and the supplier deliveries index was at 51.0, off from 51.9 last month. The prices paid index declined to 37.8 from 39.8.

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