Earlier we reported on the weak Chicago PMI report, which fell into contraction at a 49 level, vs. the 52 level that analysts had expected.
The various sub-indices of the report were really ugly as well, especially employment.
Check it out. The index collapsed from 55.1 in March to 48.7 in April.
Just 18 % of companies say they plan to hire more. That’s down from 27% in March.
18% of companies say they plan to hire less, up from 16%.