Chicago PMI Crashes Near Post-Crisis Lows

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via Zerohedge:

Despite some rebounds in regional Fed surveys, Chicago PMI has fallen for five of the seven months so far in 2019, collapsing in July to 44.4 – the second weakest since the financial crisis.

This is the worst drop since the financial crisis.

This was dramatically below the 49.5 lowest analyst estimate.

Only 2 components rose month-over-month and New orders, Employment, Production and Order Backlogs all contracting

  • Business barometer fell at a faster pace, signaling contraction
  • Prices paid rose at a slower pace, signaling expansion
  • New orders fell at a faster pace, signaling contraction
  • Employment fell and the direction reversed, signaling contraction
  • Inventories rose at a slower pace, signaling expansion
  • Supplier deliveries rose at a faster pace, signaling expansion
  • Production fell and the direction reversed, signaling contraction
  • Order backlogs fell at a slower pace, signaling contraction

This is the worst start to a year for Chicago PMI in at least 30 years…

Time to cut rates!!

 

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