Chicago PMI Suffers Biggest Miss In 5 Years As ‘V’ Hope Fades

Business

Chicago PMI Suffers Biggest Miss In 5 Years As ‘V’ Hope Fades

Tyler Durden

Tue, 06/30/2020 – 09:53

After what seems like weeks of “v”-shaped bounces in sentiment surveys as the euphoria of not being locked up reflects on hope for the future, Chicago’s PMI barometer gravely disappointed in June.

Against expectations of a “v”-like bounce to 45.0, Chicago PMI managed only 36.6 – barely above April’s level…

Source: Bloomberg

This is the biggest miss of expectations since Feb 2015.

Prices paid rose at a faster pace; signaling expansion

New orders fell at a slower pace; signaling contraction

Employment fell at a faster pace; signaling contraction

Inventories fell and the direction reversed; signaling contraction

Supplier deliveries rose at a slower pace; signaling expansion

Production fell at a slower pace; signaling contraction

Order backlogs fell at a slower pace; signaling contraction

Somebody do something!

…read more

Source:: Zerohedge.com

      

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