Chicago PMI Slumps Suggesting “June’s Momentum Was Only A Temporary Revival”

Wednesday, August 31, 2016
By Paul Martin

by Tyler Durden

Aug 31, 2016

After bouncing miraculously in June (to 18mo highs), slipped lower in July and has now tumbled in August to 51.5 (missing expectations of 54.09 markedly).With weakness across the board – new orders, inventories, and production all slumping – MNI warns, “Economic activity slowed down into the summer, suggesting June’s momentum was only a temporary revival in activity. Overall, it wasn’t a rosy month.”

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