The Chicago Purchasing Managers reported February's Chicago Business Barometer rose for a second month, up 1.2 points to 56.8, its highest level since last March. Improvement in the business barometer was concurrent with gains in New Orders, Order Backlogs and Supplier Deliveries while Production and Employment expanded at a slower pace. BUSINESS ACTIVITY: NEW ORDERS: 3rd consecutive monthly gain and 11 month high; ORDER BACKLOGS, SUPPLIER DELIVERIES and INVENTORIES gravitated towards neutral; PRICES PAID rose slightly. EMPLOYMENT remained positive. BUYING POLICY: PRODUCTION MATERIAL adjusted lower; CAPITAL EQUIPMENT ... (full story)