FAST FIVE: Chicago PMI Soars Back Into Expansion In July

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Chicago PMI Soars Back Into Expansion In July Tyler Durden Fri, 07/31/2020 – 09:51 While 'hard' data continues to disappoint, 'soft' survey data is still chock full of hope as MNI's Chicago Business Barometer surged to 51.9 from 36.6, smashing expectations of 44.0.

Source: Bloomberg Under the hood, everything is awesome with 6 subcomponents rising: Prices paid rose at a faster pace; signaling expansion New orders rose and the direction reversed; signaling expansion Employment fell at a slower pace; signaling contraction Inventories fell at a slower pace; signaling contraction Supplier deliveries rose at a slower pace; signaling expansion Production rose and the direction reversed; signaling expansion Order backlogs fell at a slower pace; signaling contraction This is the highest reading for Chicago PMI since May.

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