Chicago PMI Plunges Most Since April 2020

“Soft’ survey data has been doing what it does… surging ahead of actual “hard” data providing those who need it with proof that things are getting better.

However, recent data has shown that soft survey data losing its lead and the latest Chicago PMI confirms that with the second biggest drop since 2015 (from 75.2 – the highest since 1973 – to 66.1)….

Source: Bloomberg

Did hope just finally capitulate?