The Chicago Business Barometer declined 1.1 points in February to 47.8.
Expectations this month from Econoday were 35.0 to 42.0 (consensus 40.0). A number below 50 indicates contraction.
Chicago Business Barometer™ Drops To 47.8 In March The Chicago Business BarometerTM, produced with MNI, declined by 1.1 points in March, marking a ninth consecutive sub-50 reading. However, business sentiment rose marginally by 0.2 points to 46.6 in Q1. Among the main five indicators, Production and New Orders saw the only monthly declines, while Supplier Deliveries recorded the largest gain.
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The Chicago ISM is important as it is a window into the national ISM reports which will be issued shortly. When you compare the graph below of the ISM Manufacturing Index against the Chicago PMI (graph above) – there is a general correlation in trends, but not necessarily correlation in values.
source and read the full report: Chicago PMI