Philly Fed Slumps From 33-Year Highs To November Lows As New Orders Plunge

Thursday, July 20, 2017
By Paul Martin

by Tyler Durden
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

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