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Chicago PMI Plunges To 7-Month Lows, Misses By Most In A Year
"But it must be the weather", we are sure, will be the cry of a thousand economists whose meterologist forecasts just got torn up. Chicago PMI just missed expectations by the most in a year and tumbled to its lowest since August as it appears knowing what the weather was like in March did nothing for analysts' ability to comprehend the awful reality of the underlying economy. The business barmoter has been falling since October (pre-weather) but this month saw the employment sub-index collapsed to 50 (from 59.3), prices paid dropped, and new orders tumbled to the lowest since August.
Commenting on the MNI Chicago Report, Philip Uglow, Chief Economist of MNI Indicators said,
“March saw a significant weakening in activity following a five month spell of firm growth. It’s too early to tell, though, if this is the start of a sustained slowdown or just a blip.”
“Panellists, though, were optimistic about the future. Asked about the outlook for demand over the next three months, the majority of businesses said they expected to see a pick-up.” he added.
This 3-sigma miss is below even the worst (lowest) economist estimates and well below chief Punxatawney Joe Lavorgna's 60.0 expectation
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BULLISH!!!!! (why not)
@FieldingMellish
Even after 5 years of SSDD, this is still UFB.
yellen that sleazy nasty skunk cunt bitch whore skank itchy crotch weasel faced asswipe
Do you work for Hallmark?
this market has game. no crash in sight.
TLT getting slapped around 5 minutes after the bounce. data means nothing.
bad enough to reach an all time high in SP500 !!
Print MOARRRRRRRRRRRRRRRRRRRRRRRRRR. It's gotta work sometime hasn't it fuckwits???????????
The more pain the economy inflicts, the more pleasure the market feels
How kinky
If PMI stood for Pothole Measurement Index, the number would be off the chart.
This is what happens when you purposefully don't count the huge inflation in food, natural gas, rents and obamacare in your stats. You can just pretend people aren't running out of money, then stand around with a dumb look when things don't work out so great. Japan has lots of dumb looks now, too.
Dow's up 146, running down the hall with it's fingers in it's ears screaming "I don't care! I don't care! I don't care!"
i was wondering why the ''market'' was up so much this morning. this must be it.
no surprise, this ponzi scheme goes up on anything and its the last day of quarter, must make new highs
The "New Normal"??????
WTF-----Just go with the flow------and get screwed royally.....
Unlike Kiev and Baghdad no one knows why Chicago exists actually.
And to think they call Cleveland "the mistake by the Lake." Hmmm. What the hell do we call Chicago then?
""But it must be the weather", we are sure, will be the cry of a thousand economists" - and in the summer the reason will be 'it's too hot to manufacture.' But the spring and fall numbers will still be a problem...
Only thing that matters is Wall Street and stocks. The real economy can tank.
The more printing eventually equates to higher and higher levels of inflation. More inflation with stagnant income eventually leads to more debt and a faltering consumerism.
MOAR DATA..........
Sadly, Americans are unable to face reality. Pollyanna should be their middle name. The PINKO Commie//Socialist/Fascist class that keeps gunning this market is currently having their day. When reality finally overcomes the illusions that restrain it, I plan to watch with utter inner enjoyment and chuckle at the morons that walk this country upright...
Dupe