Having tumbled by the most in 39 years last year, Chicago PMI has no been in contraction (sub-50) for 7 months in a row - something it has not done outside of recession... ever

Having tumbled by the most in 39 years last year, Chicago PMI has no been in contraction (sub-50) for 7 months in a row - something it has not done outside of recession... ever

Source: Bloomberg

As a reminder Dec 2015 was the last time China's economy was in freefall.