US data misses out on hat-trick as new orders stumble
US data has just missed out on going three-for-three as the Chicago purchasing manager's index has missed, rising from 51.6 to just 52.3. That's the fourth miss of the last five prints.
The headline number was leaked just before it was expected to be printed at 14.45. New ordesrs are down from 54.6 to 53.9, and employment is at 55.6 from 57.8 prior.
Analysts had forecast a rise to 54.0. So while the US is still expanding (as a number above 50 implies), that acceleration is less dramatic than hoped for.
Still a good day for the US, which has seen good GDP and private sector job creation figures.