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Chicago PMI Rises Above Highest Estimate Even As Employment Drops; Prices Paid Soar
March's miss in Chicago PMI is now a dim and distant aberation as April and now May's Purchasing Managers Index surged to 65.5 - just shy of its Oct 2013 highs. As champgen corks fly and the world celebrates "we're back baby" - we hesitate to burst that exuberant bubble and note that production fell, the employment sub-index fell below its 12-month average (but that doesn't matter, right) and prices paid surged by their most in 5 years (that awkward margin-consuming inflation stoking thing).
As MNI concludes:
“We’ve had false dawns before, but the long run of strength in the survey, coupled with other more positive economic data, suggests growth is becoming more entrenched.”
Yep - no false dawn this time... we are sure of it.
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more survey fakery...how refreshing...
Keep on stacking. The depressed pm prices won't last long.
PMI not surprising so long as GM keeps building cars that need two years to clear out. Channel stuffing is great for a PMI index......
You can trust Chicago and Illinois with all it's governors that did tours in the big house.
Obama and his staff is tuning the rest of the country into one large Chicago.
Indeed we are definitely an obamanation
Stagflation bitchezz !!
The prices of things you can't eat go down......the prices of things you need to earn a living in order to eat, even the very things you do eat.....go up.
“We’ve had false dawns before, but the long run of strength in the survey, coupled with other more positive economic data, suggests growth is becoming more entrenched.”
"other more positive economic data"....... OK, please tell us just what is that data?: is it parking lot space rental fees for stashing new cars on the rise?
99 problems............but a PMI ain't one.
Can these people get their stories straight?
Nope. The book cookers in the federal government have much to learn from their Chinese counterparts.
The meme needed to reduce liquidity while trying to keep stawks going up...until it doesn't
This is bullshit... It's all bullshit...
We never close red pn Fridays
We finish green across the board (except for gold, of course).
It's Friday.
Lawd how long can this go on?
Okay, it comes from Chicago and that's all you really need to know.
The Federal Reserve must keep assets elevate at all costs. Until the US dollar crashes and they lose control.
If they trigger hyperinflation they get the debt owed down. So Zimbabwe to the Fed isn't bad for an extreme debtor naton.
The Fed will just turn to the IMF for SDRs.
Did'nt you hear? Deficits are falling! Problem solved!
/sarc
Good enough for green today. Nothing else matters.
Next there gonna tell us the murder rate in Chicago has fallen by 99%.
And the gun laws actually worked to achieve that.
For fuck sakes. Tired of these fucking pathological liars.
Hey Chicago PMI - the planet called and wants to let you know that no one with half a brain believes your bullshit!!!!
Anecdotal report...Traffic in the western burbs is out of this world heavy.
if traffic were equated with wealth Mexico city and Banglidesh would have higher living standards than Switzerland
Maybe all these Purchase Managers went on a spending binge to buy all that "Champgen" whatever that may be?
I believe anything released from Chicago because pigs do fly.
What are they buying in Chitown besides body bags and Bulls tickets? I really want to see the math behind that surge.
Food and fuel are portable commodities, the idea that we can inflate in the 3rd world and have it NOT come home is ridiculous.
My bad. I bought some stuff in Chicago for a remodeling project. I should have alerted you all that Chicago PMI would soar. This quarter though I have to save to pay my $16k property tax. Again, sorry, it was me.