Chicago Manufacturing Declines in February

he growth rate of Chicago-area manufacturing activity slowed this month as production and purchase orders declined, the National Association of Purchasing Management-Chicago said Tuesday.

APM’s Chicago-area business barometer fell to 54.9, the lowest since August, from 58.5 in January, the group said. Readings above 50 signal expansion.

The level was below economists’ forecasts of no change in the reading, Bloomberg reported.