Chicago PMI Plunges Into ‘Contraction’ – Weakest Since June 2020

Chicago PMI Plunges Into ‘Contraction’ – Weakest Since June 2020

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…

Tyler Durden
Fri, 09/30/2022 – 09:53

Share DeepPol
Generated by Feedzy