Courtesy of ZeroHedge View original post here.
After a brief, hope-filled, bounce in August, October’s Chicago PMI is a shitshow, plunging from 50.4 in August to 43.2 (contraction) in October (well below the 48.0 expected).
Source: Bloomberg
This is the biggest 8-month drop since July 1980…
Source: Bloomberg
Under the hood:
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Prices paid rose at a slower pace, signaling expansion
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New orders fell at a faster pace, signaling contraction
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Employment fell at a slower pace, signaling contraction
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Inventories fell at a slower pace, signaling contraction
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Supplier deliveries rose at a faster pace, signaling expansion
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Production fell at a slower pace, signaling contraction
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Order backlogs fell at a faster pace, signaling contraction
This is unpossible… haven’t the people living in Chicago looked at the stock market recently?