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Chicago PMI Jumps To 4-Month High Even As Employment Tumbles To 5-Month Low

Tyler Durden's picture




 

For the first time in 4 months, Chicago PMI printed better than expected with its highest level since May. Production and New Orders rose but in keeping with the new normal, the employment sub index fell for the 3rd month in a row to 5 month lows. It seems the good news that was "expected" as the market ramped higher into the release has been stymied by good news is bad news reality as all the opening ramp gains have faded.

 

Headline at 4-month highs...

 

and Employment drops to 5-month lows...

 

Hope of bad news appears to have been stymied...

 

Charts: Bloomberg

 

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Mon, 09/30/2013 - 10:00 | 4005281 unwashedmass
unwashedmass's picture

funny how as things get "so much better" , fewer and fewer people are working to make it so, isn't it? 

Mon, 09/30/2013 - 10:06 | 4005303 LawsofPhysics
LawsofPhysics's picture

we will continue to "beat expectations" until the supply lines break in earnest and the world goes to war (again)...

same as it ever was...

Mon, 09/30/2013 - 10:19 | 4005333 NoDebt
NoDebt's picture

See, now you're getting it.  You're beginning to understand why I said we need to "spread the wealth around" via governmental redistribution, supervised by me.  

Sincerely,

Barry O

Mon, 09/30/2013 - 10:21 | 4005345 unwashedmass
unwashedmass's picture

no, i think the rules should remain as they are and the markets should remain rigged, and all the laws tilted to favor the extremely wealthy. We worked very  hard to get the setup perfected.....the peasantry of the US are now virtual debt slaves.....it took alot of time and money to put this all in place. 

all efforts to change and reinstate actual democracy and individual freedoms should be squelched. 

Mon, 09/30/2013 - 10:01 | 4005282 replaceme
replaceme's picture

Same as it ever was, same as it ever was.

Mon, 09/30/2013 - 10:00 | 4005283 ihedgemyhedges
ihedgemyhedges's picture

Chicago PMI should be good.  $14,000 off sticker for a new Chevy Silverado, 72 month financing at 0% thanks to Ally.  Well, Benny gets credit too, so to speak......

Mon, 09/30/2013 - 10:04 | 4005294 Dr. Engali
Dr. Engali's picture

The Business insider has a woody over this number:

MIDWEST MANUFACTURING IS ROARING

 

http://www.businessinsider.com/chicago-pmi-september-2013-9

 

In the mean time Walmart can't give the shit away to a broke consumer.

Mon, 09/30/2013 - 10:08 | 4005316 TeamDepends
TeamDepends's picture

They have a sweet contract with FEMA though, to see them through the coming hard times.

Mon, 09/30/2013 - 10:14 | 4005326 ihedgemyhedges
ihedgemyhedges's picture

Sorry Doc, down arrow for referring to businessinsider.......

Mon, 09/30/2013 - 10:20 | 4005340 Dr. Engali
Dr. Engali's picture

No problemo. It's all good, I like to frequent other sites for a good laugh some times.

Mon, 09/30/2013 - 10:21 | 4005343 SheepDog-One
SheepDog-One's picture

What do they manufacture in the midwest? Last I saw it looked like the apocalypse.

Mon, 09/30/2013 - 10:24 | 4005347 Dr. Engali
Dr. Engali's picture

Welfare queens and crack babies.

Mon, 09/30/2013 - 10:04 | 4005299 LawsofPhysics
LawsofPhysics's picture

Damn robots...

same as it ever was...

Mon, 09/30/2013 - 10:05 | 4005306 orangegeek
orangegeek's picture

Chicago PMI is up because da Bears lost yesterday.  Makes sense, right?

 

But how about those Bills beating the Ravens.  Take that Baltimore - still lovin' ya Michael Oher.

 

 

Mon, 09/30/2013 - 10:09 | 4005313 FieldingMellish
FieldingMellish's picture

At least something is still being manufactured in the US... even if its only data.

Mon, 09/30/2013 - 10:13 | 4005325 NoDebt
NoDebt's picture

They'll take it.  Intangibles count now.

Mon, 09/30/2013 - 10:11 | 4005322 asteroids
asteroids's picture

Ain't Chicago Obozos home turf? Considering local politics there and state finances (ie they are broke) do you really believe anything that comes out of a viper pit such as that?

Mon, 09/30/2013 - 10:12 | 4005324 NoDebt
NoDebt's picture

Keeps going like this and we'll have a roaring economy with nobody working.

Mon, 09/30/2013 - 10:19 | 4005337 SheepDog-One
SheepDog-One's picture

OMG look good news! WAIT! We want bad news! OH I forgot, my bad!

Mon, 09/30/2013 - 10:19 | 4005341 Devotional
Devotional's picture

Did anyone notice the gold price smash this morning? 4 weeks straight on NYC open. As expected and bought of course.

anyone?

Mon, 09/30/2013 - 10:27 | 4005357 adr
adr's picture

So was the cancelable new orders sub index up?

Or how about the deliveries that won't be made sub index?

I know the happy rainbow riding unicorn index is always up.

In business, orders don't mean anything. The only thing that matters is the check you get in 60-90 days after the product ships. If you're selling to the big box, you never know what you are going to get. Sure the order said $250k, but your payment might be $200k because someone in the shipping department may have forgot to put a # symbol before the store numbers on the boxes.

Big Box chargebacks are almost impossible to avoid. Sometimes they hit as high as 15%. When you are already operating on razor thin margins, hits like that sap all your profit.

I know many corporations that end up breaking even on everything they ship, but at least they stay in business.

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