The Chicago PMI was released today for the month of February, where the index rose to 71.2, compared with the prior reported estimate of 68.8 and well above estimates of 67.5.

The prices paid index eased to 81.2 from 81.7, while the production index rose to 78.2 from 73.7, new orders rose slightly to 75.9 from 75.7, inventories rose to 60.2 from 54.5, and employment eased to 59.8 from 64.1.