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Q2 Rebound Fail: Chicago PMI Drops, Misses By Most Since March
Following last month's "see, the Q2 rebound is a real thing" exuberance, Chicago PMI re-tumbled in June to 62.5, its biggest miss in 3 months. This is the biggest headline drop since March as inventories rose, order backlogs fell, and new orders fell. On the bright side (despite the fall in new orders, employment rose). It seems the hopes and dreams of Q2 are fading.
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Seems scripted..
Must be the rapidly rising temperatures in Chicago since winter that are to blame.
too humid to go out and shop
You can't talk sense to this market. All you can do is BTFATH... Especially on a holiday-shortened week.
It's the weather, right?
http://olduvai.ca
The weather in Q2 unexpectedly was warmer than in winter, causing orders to drop and a prolongulolatory economic vortex that is a direct result of my driving a truck, or something.
El Nino....or is it, un Amigo?
more easing imminent should be good for stocks.
Ooops....
The NY fed will show up with a reported 1,000% increase in manufacturing activity to rally the markets.
Like the old South Park episode.
"So you have a 1,000% increase in manufacturing?"
"We are reporting a 1,000% increase in manufacturing."
"So manufacturing increased by 1,000%?"
"We are reporting that manufacturing increased by 1,000%."
"Oh, ok"
It's that goddamned lake next to Chicago.
Still over 50.
Then again, it was still over 50 when we printed a -2.9% GDP number for Q1. So, take what you will from "survey" numbers.
Still over 50 -- bullish!
Still an expansion though, right? So not a complete disaster
Whoa! Are you my evil twin?
Aren't you the evil one?
Numbers out of Chicago are as fake as Pamela Anderson's tits.
Pro Wrestling, though- still real. Vince McMahon has done a fabulous job of making sure the competitions are fair, refereed impartially and that there's no cheating or collusion. I put him almost on par with Donald Trump.
"Numbers don't lie."
BaaaWaaaHaaaa!
Sure - in the 60s while Q1 GDP was -2.9%
Lie, cheat and steal - the new norm for the masses