Chicago PMI in at 71.2 a Beat from expectations of 67.5

Anything over 50 represents expansion and under 50 contraction. This is the latest in a long series of good numbers out of the Chicago PMI (green shoots? Where are the jobs?).  This number is exceptionally suspicious as it puts manufacturing at the best levels seen in 23 years!

Inside the report.... The new order index is the highest seen in nearly 28 years! However for all the new orders, the employment index component DROPPED from 64.1 to 59.8-is the math adding up here?

Still the comment section features continued complaints about rising prices or input costs. We all know Chicago is the apex of truthful politics, but we have to wonder about their PMI report. With numbers like this, we should be seeing a revival in our economy led by Chicago alone.

A good trader always has a healthy dose of skepticism, a great trader is downright paranoid.