Macro: Philly Fed Mfg Survey — Umm
Tis was a poor number. The headline dropped from -5.9 to -10.5. The more eye popping number was the Index for New Orders which dropped from 1.3 to -25.6. I hate to say it, the diffusion index for new orders has never gone below 21 without an accompanying recession; that is until 2023. This is the 4th reading in the [...]
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