After miraculously surging to two years highs in Nov 2023, Chicago PMI has plunged for five straight months, with the last four months seeing the MoM declines accelerating. Against expectations of a rise to 45.0 (from March's 41.4), April's PMI data printed 37.9

That is the worst five-month collapse since Lehman...

More problematically - the underlying data screams stagflation:

All of which leaves 'hope' languishing at 'Bidenomics'-cycle lows...

...leaves 'hope' languishing at 'Bidenomics'-cycle lows...
{ai:summary}Chicago PMI surges then plunges, hitting new lows. Stagflation signals trouble ahead. Economy woes deepen. #economy

Fastest Drop Since 'Lehman': Chicago PMI Puke Screams Stagflation

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