Philly Fed Slumps From 33-Year Highs To November Lows As New Orders Plunge
by Tyler Durden
ZeroHedge.com
Jul 20, 2017
Another day, another ‘soft’ data point disappointments and heads towards it ‘hard’ data reality. This time is the turn of the Philly Fed survey, which missed expectations and dropped to 19.5 – its lowest since Nov 2016.
Remember Philly Fed hit a 33 year high in February – what does it say about these surveys that it is now languising back at 9 month lows?
New Orders collapsed, employees tumbled, and average workweek slumped…
The Rest…HERE
