The report from the Midwest’s Chicago Purchasing Managers rose nearly four points to a reading of 64.0 in February from only 60.2 in January. Bloomberg had a consensus economist target of 61.0 for this report from February.
While this is only one region, it focuses heavily on manufacturing in the heartland of America. The report is also used as a prelude and a pre-weather barometer for the broader nationwide Institute of Supply Management, or ISM.
The report shows that the February CHICAGO BUSINESS BAROMETER rose to its highest level in ten months and is at its twenty-ninth consecutive month of expansion. This was actually the fourth consecutive month where the index came in at or above 60.
Increases were seen in six of the eight individual Business Activity Indexes and the report was highlighted by a very large advance in Employment.
JON C. OGG
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