Philly Fed ‘Hope’ Jumps As New Orders Plunge, Employment Crashes To 7 Year Lows

Thursday, August 18, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
Aug 18, 2016

Despite a modest bounce in Philly Fed headline data – thanks purely to a jump in ‘hope’ from 33.7 to 45.8 (the highest in 18 months) – the underlying components of the Philly fed survey are a disaster. New orders collapsed, employment crashed to 7 year lows, Average workweek plunged, prices paid soared, and inventories fell.

The Rest…HERE

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