Dallas Fed Manufacturing Contracts For 9th Month In A Row As Jobs, Workweek, & CapEx Collapse

Monday, September 28, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
09/28/2015

August’s regional Fed survey collapse was unanimous… Dallas, Richmond, New York, Philly, Chicago, and even Kansas City all flashing recessionary warnings. And so now we begin to see September’s data and Dallas Fed prints -9.5 – the 9th negative (contractionary) print in a row. While a small beat (against -10 exp.) and rise from August’s -15.8, under the surfacxe the data is a disaster with wages lower, employees contracting drastically, and average workweek collapsing. Having noted that “the quantitative easing hangover is starting” in August, it appears – judging by the biggest plunge in Capex in 5 years.

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