The MNI-ISM Chicago Purchasing Managers Index fell to 58.7 in March, retracing much of the February rebound to 64.7 after 56.7 in January. The report said that softer readings for production, new orders, and order backlogs more than offset increases in employment and vendor performance.
The index is inclusive of respondents from both services and manufacturing, so it can be more volatile than those surveys that are strictly one or the other.
I will also note that Boeing headquarters is in Chicago. If it was in the survey, its outlook may have been gloomier following crashes of its 737 MAX and that affect on its business.
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