After crashing to its lowest print in a year (in January), MNI’s Chicago PMI soared in February to 57.4 – well above the highest expectation – to the highest since Jan 2015.
The median estimate of 35 economists was 53.5 – this surge to 57.4 is above the highest of those expectations with 6 of the sub-components rising.
The biggest spike was in Prices Paid – surging to 68.6 – as stagflation once again rears its ugly head.
Another ‘soft’ survey data beat to go with the ‘hard’ data misses.
via http://ift.tt/2mAzaip Tyler Durden