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Business economy grew in Midwest in February despite the weather


CHICAGO (WKZO) -- A key measure of business in the Midwest is higher than expected.

The Chicago Purchasing Managers Index measures business conditions in Michigan, Indiana, and Illinois.

Today's report shows a slight rise in the PMI for February.

Analysts had expected it to drop, partly because of the brutal winter weather the midwest has experienced since November. Instead it snapped a three month run of slower growth.

The Institute for Supply Management-Chicago business barometer survey's corporate purchasing managers on a monthly basis to gauge the health of the industrial sector.

Their numbers edged up to 59.8 from 59.6 in January. Economists' median forecast in a Reuters poll was 57.0.