Philly Fed Crashes To 31-Month Lows, Blames Stock Market
by Tyler Durden
ZeroHedge.com
09/17/2015
On the heels of Empire Fed’s big plunge, Philly Fed just collapsed. Despite employment and new orders picking up, the headline Philly Fed data crashed from 8.3 to -6.0 (missing expectations of +5.9 by the most in 4 years). This is the lowest print since March 2013 and is blamed on markets “evidence suggests that the responses regarding general activity that were received earlier in the month may have been negatively affected by the volatility in the stock market and international news reports.” Must. Keep. Stocks. High.
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