Chicago PMI “Bounce” Is Dead – PMI Plunges Back To Recessionary Levels

Jon Alternative Media, Blogosphere, Economy

The brief dead cat inventory-stacking bounce in Chicago PMI is over. With a print of 48.7, back below 50, (against hope-strewn expectations of 52.9) this was below the lowest economist estimateand the lowest since May. Aside from employment (which somehow rose), the components were ugly withNew Orders, Production, and Prices Paid all tumbling. Chicago confirms Richmond, New York, Philly, Chicago, and even Kansas City regional surveys all flashing recessionary warnings.
Welcome back into contractionary sub-50 levels.

This post was published at Zero Hedge on 09/30/2015.