Philly Fed Drops To 4-Month Lows, Employment Tumbles

Thursday, October 16, 2014
By Paul Martin

by Tyler Durden
ZeroHedge.com
10/16/2014

Despite a small beat of expectations at 20.7 vs expectation sof 19.8 but down from 22.5 , Philly Fed fell for the 2nd month from 3-year highs to 4-month lows. Under the surface things were even less agreeable with employment and average workweek tumbling notably. As the table below shows, the number of employees was whacked in half to just 12.1, while the employee workweek actually dipped into negative territory at -1.3. Forward-looking expectations dropped driven by a fall in capital spending expectations, which slid as now has become the norm, from 23.7 to 18.9

The Rest…HERE

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