NEW YORK - The Chicago Purchasing Managers’ Business Barometer rose to 71.2 in February from 68.8 in January, the National Association of Purchasing Management-Chicago said Monday.
The data is compiled on a seasonally adjusted basis. An index reading below 50 signals a slowing economy, while a level above 50 suggests expansion.
Economists polled by Thomson Reuters predicted a 67.5 reading for the indicator.
The production index rose to 78.2 from 73.7, the new orders index increased to its highest level in 28 years 75.9 from 75.7, the order backlogs index gained to its highest level in 17 years 61.8 from 60.6 in the prior survey and inventories climbed to 60.2 from 54.5. The employment index decreased to 59.8 from 64.1; and the supplier deliveries index was at 64.1, up from 59.8 last month. The prices paid index slid to 81.2 from 81.7.
