Chicago PMI Misses, Texas Manufacturing Survey Beats In March

We had two regional manufacturing surveys released today: Chicago PMI and the Dallas Fed's Texas Manufacturing Survey. Consensus estimates had expected the Chicago PMI to come in at 59 instead the headline index came in at 55.9 for the slowest reading since August. The Texas Manufacturing Survey headline improved from 0.3 to 4.9 in March. This was slightly above the consensus estimate of 3.