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Ian Shepherdson of High Frequency Economics says the "Chicago PMI rise to 71.2 (from 68.8 and compared to median at 68.0) was the highest reading since July 1988. "The rise in the headline is reflected in the orders and production components, though employment dropped," he says. While the job component disappointed (-4.3 in Feb), it comes after a 5.6 pt rise in Jan.
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