Empire Fed Manufacturing Outlook Crashes Back To Reality
by Tyler Durden
ZeroHedge.com
05/16/2016
The March/April dead cat bounce in Empire Fed Survey is back deep into contraction territory. Having surged to +9.6, May saw respondents entirely lose faith and crash back to -9, massively missing expectations of a +6.5 print (the biggest drop since Oct 2014). Under the surface everything plunged (except the number of employees which inched higher) as New Orders, Workweek, and Prices received all contracted drastically. Even hope tumbled with future CapEx expectationscollapsing by the most since June 2013.
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