Despite plunging consumer spending, Chicago PMI surged to 66.2 (against expectations of 60.0), its highest in 12 months. This is above even the highest economist estimate and is a 4-sigma beat… having been at one-year lows just 3 months ago.
Detailed breakdown…
- Prices Paid fell compared to last month
- New Orders rose compared to last month
- Employment rose compared to last month
- Inventory fell compared to last month
- Supplier Deliveries fell compared to last month
- Production rose compared to last month
- Order Backlogs rose compared to last month
- Business activity has been positve for 12 months over the past year.
via Zero Hedge http://ift.tt/1zRdTVy Tyler Durden