Having tumbled (and missed) for two straight months, hope triumped in January and pushed Chicago PMI above expectations printing 59.4 (against 57.4 consensus). This is still the 2nd worst print since July so let's not get all excited quite yet as only 4 components rose. This is the 4th month in a row of negative YoY prints. So just to clarify - US GDP misses notably and stocks say "meh" but Chicago PMI beats and stocks smash higher on a JPY lifeboat...
[3]
Breakdown
- Prices Paid fell compared to last month
- New Orders rose compared to last month
- Employment rose compared to last month
- Inventory fell compared to last month
- Supplier Deliveries fell compared to last month
- Production rose compared to last month
- Order Backlogs rose compared to last month
