Dallas Fed Respondent Sums It Up: “Anyone Saying We’re Not In Recession Is Peddling Fiction”
by Tyler Durden
ZeroHedge.com
03/28/2016
Headlines will crow of the seasonally-adjusted ‘beat’ of expectations for the Dallas Fed survey (-13.6 vs -25.8 exp) but this is the 15th month in contraction (below 0) – something only seen in recession. Scratching below the surface we see employees, workweek, and capex all in contraction and forward expectations for new orders and employment tumbled. Perhaps that reality is what drove one respondent to rage, “anyone who says the economy is not in recession is peddling fiction.”
The Rest…HERE
