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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