Chicago PMI

The economy bulls didn't have much time for celebration following the stronger than expected 8:30 GDP figures. At 10, the Chicago PMI data showed manufacturing back in contraction with a reading of 48.8. Prices paid index fell to 54.9 from 56.9 in December. New orders slumped to 46.3 from 56.3. The employment index fell to 42.8 from 48.2. This sets the stage for a weak national PMI report.