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Chicago PMI Rebounds To 2-Year Highs After January Crash

After crashing to its lowest print in a year (in January), MNI's Chicago PMI soared in February to 57.4 - well above the highest expectation - to the highest since Jan 2015.

The median estimate of 35 economists was 53.5 - this surge to 57.4 is above the highest of those expectations with 6 of the sub-components rising.

 

The biggest spike was in Prices Paid - surging to 68.6 - as stagflation once again rears its ugly head.

Another 'soft' survey data beat to go with the 'hard' data misses.