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    Here’s a question that might have you pondering: Is gold a commodity? More importantly, are we doing a disservice to the gold industry by calling gold a commodity? These may sound like silly...

Chicago PMI Rises Above Highest Estimate Even As Employment Drops; Prices Paid Soar

Tyler Durden's picture


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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Fri, 05/30/2014 - 09:53 | 4809205 PlusTic
PlusTic's picture

more survey fakery...how refreshing...

Fri, 05/30/2014 - 09:59 | 4809225 Millivanilli
Millivanilli's picture

Keep on stacking.   The depressed pm prices won't last long.

Fri, 05/30/2014 - 10:11 | 4809257 ihedgemyhedges
ihedgemyhedges's picture

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......

Fri, 05/30/2014 - 10:03 | 4809231 yogibear
yogibear's picture

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.

Fri, 05/30/2014 - 10:19 | 4809283 intric8
intric8's picture

Indeed we are definitely an obamanation

Fri, 05/30/2014 - 10:03 | 4809232 Jumbotron
Jumbotron's picture

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.

Fri, 05/30/2014 - 10:53 | 4809404 caShOnlY
caShOnlY's picture

“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? 

Fri, 05/30/2014 - 09:53 | 4809206 Hippocratic Oaf
Hippocratic Oaf's picture

99 problems............but a PMI ain't one.

Fri, 05/30/2014 - 09:53 | 4809208 Smegley Wanxalot
Smegley Wanxalot's picture

Can these people get their stories straight?

Fri, 05/30/2014 - 09:58 | 4809222 jpc578
jpc578's picture

Nope. The book cookers in the federal government have much to learn from their Chinese counterparts.

Fri, 05/30/2014 - 09:55 | 4809213 BullyBearish
BullyBearish's picture

The meme needed to reduce liquidity while trying to keep stawks going up...until it doesn't

Fri, 05/30/2014 - 09:57 | 4809215 The Most Intere...
The Most Interesting Frog in the World's picture

This is bullshit...  It's all bullshit...

Fri, 05/30/2014 - 09:57 | 4809217 jubber
jubber's picture

We never close red pn Fridays

Fri, 05/30/2014 - 09:58 | 4809220 Ness.
Ness.'s picture

We finish green across the board (except for gold, of course).


It's Friday.

Fri, 05/30/2014 - 10:18 | 4809280 Idaho potato head
Idaho potato head's picture

Lawd how long can this go on?

Fri, 05/30/2014 - 10:12 | 4809226 Dr. Engali
Dr. Engali's picture

Okay, it comes from Chicago and that's all you really need to know.

Fri, 05/30/2014 - 10:00 | 4809227 yogibear
yogibear's picture

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.

Fri, 05/30/2014 - 10:07 | 4809247 short screwed
short screwed's picture

Did'nt you hear? Deficits are falling! Problem solved!


Fri, 05/30/2014 - 10:03 | 4809234 FieldingMellish
FieldingMellish's picture

Good enough for green today. Nothing else matters.

Fri, 05/30/2014 - 10:05 | 4809238 short screwed
short screwed's picture

Next there gonna tell us the murder rate in Chicago has fallen by 99%.

Fri, 05/30/2014 - 10:21 | 4809287 Idaho potato head
Idaho potato head's picture

And the gun laws actually worked to achieve that.

Fri, 05/30/2014 - 10:11 | 4809254 orangegeek
orangegeek's picture

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!!!!

Fri, 05/30/2014 - 10:15 | 4809263 brown_hornet
brown_hornet's picture

Anecdotal report...Traffic in the western burbs is out of this world heavy.

Fri, 05/30/2014 - 13:08 | 4809988 SmittyinLA
SmittyinLA's picture

if traffic were equated with wealth Mexico city and Banglidesh would have higher living standards than Switzerland 

Fri, 05/30/2014 - 10:32 | 4809315 walküre
walküre's picture

Maybe all these Purchase Managers went on a spending binge to buy all that "Champgen" whatever that may be?

As champgen corks fly

I believe anything released from Chicago because pigs do fly.

Fri, 05/30/2014 - 12:34 | 4809864 Luckhasit
Luckhasit's picture

What are they buying in Chitown besides body bags and Bulls tickets? I really want to see the math behind that surge.

Fri, 05/30/2014 - 13:04 | 4809974 SmittyinLA
SmittyinLA's picture

Food and fuel are portable commodities, the idea that we can inflate in the 3rd world and have it NOT come home is ridiculous.

Fri, 05/30/2014 - 13:47 | 4810135 Muppet
Muppet's picture

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.

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