Dallas Fed Dead-Cat-Bounce Dies – Economy Contracts For 20th Month In A Row
by Tyler Durden
ZeroHedge.com
Aug 29, 2016
Having jumped miraculously from -18 to -1.3 in July, August’s Dallas Fed plunged back to -6.2 – contracting for the 20th month in a row. The worse than expected headline data came despite a rise in new orders as the number of employees, average workweek, and capex all plunged into contraction. Hope also tumbled from 18.4 to 7.0 with inventories and new orders expected to slow.
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