Chicago PMI Bounce Is Dead, Crashes Back Near 6 Year Lows
by Tyler Durden
ZeroHedge.com
05/29/2015
Following Milwaukee ISM’s plunge to 15-month lows this morning with a plunge in new orders (missing for 4 of last 5 months), Chicago PMI printed a disappointing 46.2 (against expectations of a slight rise to 53.0 from 52.3 last month) – lower than the lowest economist estimate. After last month’s modest (dead-cat) bounce back from winter’s collapse to 6 year lows, this re-collapse is hardly the kind of Q2-recovery-reinforcing data the mainstream wants. With the level now back at the same when Lehman hit, New Orders, Production, and Employment all contracted in May.
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