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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (24560)	2/28/2005 12:08:39 PM
From: mishedlo	Respond to of 116555

Chicago-are business gauge expands Monday, February 28, 2005 3:32:26 PM afxpress.com CHICAGO (AFX) - Business activity in the Chicago area expanded slightly more than expected in February, according to the latest Chicago purchasing managers index released Monday The index read 62.7 percent this month The average forecast in a poll of economists by MarketWatch was for a reading of 61 percent after 62.4 percent in January The report is a diffusion index, measuring the breadth of activity across companies. Readings over 50 percent indicate that more than half of respondents said business is better or the same. The barometer has been above 50 percent for 22 straight months The index covers all business but the area's manufacturing concentration sometimes prompts economists to use the Chicago index to adjust their forecasts for the national manufacturing snapshot, the Institute for Supply Management index. The February index is due for release on Tuesday The MarketWatch survey of economists taken late last week produced an average forecast of 56.6 percent for the ISM, little changed from last month's 56.4 percent. T