US Economy | Chicago MNI falls far short of expectations, with worst miss ever

Chicago MNI falls far short of expectations, with worst miss ever

March 31, 2015 9:57 AM (UTC+8)

 

The Chicago MNI Business Barometer came out at 46.3 in March, barely above the 45.8 reading in April, indicating more contraction. The consensus estimate called for a recovery to 51.7. That’s another miss for CCC (the Consensus Cargo Cult).

chipmi3-31

 

We’ve noted that the Bloomberg Economic Surprise Index (the difference between consensus estimates and actual) is at the lowest level since 2009. The 3-month average of the gap between the consensus and the Chicago manufacturing gauge is at the worst EVER. That’s worse than any time during the financial crisis.

chimiss

(Copyright 2015 Asia Times Holdings Limited, a duly registered Hong Kong company. All rights reserved. Please contact us about sales, syndication and republishing.)

Comments