Chicago PMI MIsses, Drops To 5-Month Lows

Only 1 of MNI's Chicago Business Barometer components rose in December as the headline index tumbled from October's multi-year highs at 66.2 to today's December print of 58.3 - lowest in 5 months and missing expectations for the 2nd month in a row. While new orders, prices paid, and production all fell, employment (the sole improvment) rose.

Breakdown via MNI

• Prices Paid fell compared to last month
   
• New Orders fell compared to last month
   
• Employment rose compared to last month
   
• Inventory fell compared to last month
   
• Supplier Deliveries fell compared to last month
  
• Production fell compared to last month
  
• Order Backlogs fell compared to last month

*  *  *

So lower prices, less orders, less production... let's hire more people?

Comments

[LawsofPhysics]

More irrelevant "data".

< sigh >

[sun tzu]

Not irrelevant

Bullardish

[KnuckleDragger-X]

I'm just amazed they still have anything left to derive a PMI from. I guess the Mafia is into industry in a big way up there.....

[Soul Glow]

In the race to the bottom, it isn't who paints the tape, it's who does it best.

[alexmark2013]

For the first time since the crisis, Gallup economic optimism turns positive. (Just in time for the next one!) http://investmentwatchblog.com/for-the-first-time-since-the-crisis-gallup-economic-optimism-turns-positive-just-in-time-for-the-next-one/

[valley chick]

Well looking at the green shoots ..bonuses are BULLISH!  They are the only numbers that matter! Happy New Year!

[Temerity Trader]

The numbers are meaningless anymore.

The ONLY way short sellers will ever make a dime in this market is when all hope is lost. When Fed worship ends and millions suddenly realize the Fed can do no more. Does anyone really see that day coming? When central bankers announce they are throwing in the towel? NEVER. They will coordinate more QE and jawbone at every weakness. The government can and will also announce more stimulus programs, enabled by the Fed. They are 100% successful so far, so doubt they will give up. Dow 7000 is not an option.

It will take huge earnings misses in every sector, massive layoffs, and a collapse in Silicon Valley hype and an off-the-chart property bubble, to start to bring it all down. Millions around the world who believe the Fed has guaranteed the markets, will have to see it is no more. When the bankers hint at more QE and the markets still sell off, bears can pile on. The wealthy will not let the billions of $$ Ben and Janet gave them, evaporate; they will bail. Then the masses will panic and sell fast. It will be a bloodbath. But, Dow 20K first, and maybe 25K?

“Growth” at 5% thanks to $5 trillion in printing, so why would more finally fail?

[Berspankme]

Imagine if we would've printed $10 T or $20T. We'd have 10% growth and fucking happy days are here again.

Fuck You Bernanke

[Berspankme]

Yellin may have to start QE'ing again.

Fuck You Bernanke