After the unexpected resurgence in April, Chicago PMI plunged in May from 48.6 to 40.4 (against expectations of 47.3). That is the ninth straight month below 50 (in contraction)...

<strong>That is the longest streak of prints in 'contraction' since the Great Financial Crisis.</strong>

Under the hood, none of the underlying drivers were higher MoM...

This continues a trend of 'soft' survey data disappointing notably.

...none of the underlying drivers were higher MoM...


Chicago PMI Unexpectedly Plummets, Longest 'Contraction' Streak Since Lehman

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