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Chicago PMI accelerates in February

Chicago PMI accelerates in February (by Steve Goldstein)

WASHINGTON (MarketWatch) -- The Chicago business barometer, which also is known as the Chicago PMI, accelerated to a reading of 64.0% in February from 60.2% in January, ISM-Chicago said Wednesday. The index measuring production was the highest since April, new orders hit an 11-month high, order backlogs moved out of contraction and employment had the biggest one-month gain since March 2008. Economists polled by MarketWatch had anticipated a small dip to 60.0%.