Chicago PMI Number Is A Massive Flop

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[credit provider=”AP” url=”AP”]

Headline: 56.6Expectations: 62.0

Analysis: Last month, Chicago PMI hit 67.6 and while it was expected to fall this month, this is a deeper dive than expected. It still does indicate growth, but we’re approaching stall speed. New orders and production fell sharply.

It follows the trend of other U.S. manufacturing data disappointing, and adds to the weaker than expected Case-Shiller number this morning.

Stocks, however, remain higher this morning, with the S&P 500 up 0.85%.

Don’t miss: The signs the economy is slowing >