After exploding to its highest since May 2014 in June, Chicago Purchasing Managers gave up hope in July.
PMI plunged most since Feb 2015 to 58.9 – erasing all of July’s “surprise” gains as new order growth slowed and prices paid accelerated.
Only 2 components were rising:
- Prices paid rose at a faster pace
- New orders rose at a slower pace
- Employment rose at a slower pace
- Inventories rose at a faster pace
- Supplier deliveries rose at a slower pace
- Production rose at a slower pace
- Order backlogs rose at a slower pace
Are ‘soft’ surveys about to start waking up to reality?
via http://ift.tt/2vfaX88 Tyler Durden