The data issued today, Friday, revealed that the Chicago Purchasing Managers’ Index for the month of March recorded a positive reading, as the index recorded about 43.8 points, higher than expectations, which indicated that the index recorded only about 43.1 points, and the previous reading of the index had recorded 43.6 points at the end of last February.
This index measures the level of index activity based on a survey of purchasing managers in the state of Chicago. The survey includes about 200 purchasing managers in the state of Chicago. They are asked to assess the level of business conditions, which include employment, production, new orders, prices, supply and inventories.
The survey includes both manufacturing and non-manufacturing companies, so it is not directly compared to manufacturing-only surveys. A reading above 50 indicates expansion of the business sector. Although the survey appears local, it reflects economic activity in general in the state of Chicago and is seen by many as an indicator that represents the economy in general.
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