Philly Fed Contracts For 6th Month In A Row As “Hope” Crashes To Nov 2012 Lows

Thursday, February 18, 2016
By Paul Martin

by Tyler Durden

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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