Richmond Fed Manufacturing Collapses To 2015 Lows, Drops Most In 9 Years
by Tyler Durden
ZeroHedge.com
08/25/2015
The 3-month bounce in the Richmond Fed Manufacturing survey… is dead. From 13 in July, August saw it collapse to 0 (massivley missing expectations of a 10 print). This is the biggest absolute drop in the index since May 2006. Across the board, underlying factors crashed with Shipments plunging, New Orders cliff-diving, order backlogs disappearing and Capacity Utilization plunging. This is exactly what we would expect after a massive inventory build up that was not accompanied by a surge in sales… but the pundits stil proclaim “no signs of an imminent US recession.”
The Rest…HERE
