Philly Fed Contracts For 6th Month In A Row As “Hope” Crashes To Nov 2012 Lows
by Tyler Durden
ZeroHedge.com
02/18/2016
While jobless claims look rosy, Philly Fed’s employment index plunged by the most since May 2013 as the headline survey extended its period of sub-50 contraction to six straight months – the longest streak outside of a recesssion in history. Across the board the underlying components were weak with current all tumbling led a collapse in average workweek, employment, and new orders. Worse still, the “hope” index plunged to its lowest since Nov 2012.
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