Chicago PMI Plunges Into 'Contraction' - Weakest Since June 2020

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The Chicago PMI survey plunged unexpectedly back into contraction in September (to 45.7 versus 51.8 expectation). That is the lowest print for the survey since June 2020…

Source: Bloomberg

None of the underlying components rose relative to last month:

  • Prices paid rose at a slower pace; signaling expansion

  • New orders fell at a faster pace; signaling contraction

  • Employment fell and the direction reversed; signaling contraction

  • Inventories rose at a slower pace; signaling expansion

  • Supplier deliveries rose at a slower pace; signaling expansion

  • Production fell and the direction reversed; signaling contraction

  • Order backlogs fell and the direction reversed; signaling contraction

Just add it to the list of recession red flags…

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Image and article originally from www.zerohedge.com. Read the original article here.

By admin