Chicago PMI Stuck In Contraction For 4th Straight Month Despite weakness in regional Fed business surveys, analysts expectations were for Chicago PMI to extend its rebound from multi-year lows in December, and it did, rising to 48.9 (47.9 exp). This rise comes despite weakness in overall data, but as the chart shows PMI remains sub-50 (in contraction) for the 4th straight month... Source: Bloomberg 5 of the survey's components rose in December, but it's not a pretty picture: Prices paid rose at a faster pace, signaling expansion New orders fell at a faster pace, signaling contraction Employment fell at a faster pace, signaling contraction Inventories fell at a slower pace, signaling contraction Supplier deliveries rose at a faster pace, signaling expansion Production fell at a slower pace, signaling contraction Order backlogs fell at a slower pace, signaling contraction Regional fed business surveys are rolling back lower... Source: Bloomberg So much for the bottom being in. Tyler Durden Mon, 12/30/2019 - 09:50 Tags Business Finance