After a surprisingly strong rebound in December, Chicago PMI fell back in January to 44.3 (below expectations of 45.0), below ’50’ for the 5th straight month…Source: BloombergThat is the longest streak of prints in ‘contraction’ since the Great Financial Crisis.Under the hood, the business barometer fell at a faster pace; signaling contractionPrices paid rose at a faster pace; signaling expansionNew orders fell at a faster pace; signaling contractionEmployment fell at a faster pace; signaling contractionInventories fell at a faster pace; signaling contractionSupplier deliveries rose at a faster pace; signaling expansionProduction fell at a slower pace; signaling contractionOrder backlogs fell and the direction reversed; signaling contractionNumber of components rising vs last month: 3This continues a trend of ‘soft’ survey data disappointing notably.Loading…
