Chicago PMI Plunges To 2-Year Lows
Amidst all the hope - and promises from The Fed that everything will be awesome - Chicago Purchasing Managers strongly disagree as their latest business survey collapsed from a revised lower 63.8 to 56.7 in January…
That is below the lowest analyst estimate (range 58 - 63.8 from 24 economists surveyed) and the weakest print since Jan 2017.
Business barometer rose at a slower pace, signaling expansion
Prices paid unchanged, signaling expansion
New orders rose at a slower pace, signaling expansion
Employment rose at a faster pace, signaling expansion
Inventories rose at a slower pace, signaling expansion
Supplier deliveries rose at a slower pace, signaling expansion
Production rose at a slower pace, signaling expansion
Order backlogs rose at a slower pace, signaling expansion
Number of components rising vs last month: 1
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Charts do not lie…markets pumped on low volume do.
https://www.zerohedge.com/news/2019-01-31/chicago-pmi-plunges-2-year-lows