Philly Fed Soars To 3 Year Highs As Capex Investment Plans Tumble

Tyler Durden's picture

By the magic of hopes and dreams, Philly Fed's headline index soared to cycle highs at 23.9. Smashing the 16.25 expectation, this is the highest since March 2011 (and almost the highest in the recovery cycle). This is a 4-standard deviation beat. While most of the 'current' subindices improved with new orders exploding to their highest in 10 years (really!?). Great news right? Well no - the outlook 6-months forward sees employment drop, workweek drop, and capex investment plans drop to its lowest since January...


Yay!! multi-year highs...


With New Orders exploding


But Capex plans dropped their most in 18 months to 6 month lows...


The Full Breakdown...

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DOT's picture

Buy, buy, buy!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

wallstreetaposteriori's picture

New orders explode higher....must mean its upgrade time for Obamaphones....

sodbuster's picture

Just another meaningless bullshit number.

SDShack's picture

Yep, with the cost of almost all raw materials increasing, manufacturers announce price increases to maintain margins, and that forces buyers to restock massively just before price increases go into affect. The last half of 2014 is going to be brutal.

RevRex's picture

Economic indicators are meaningless during the Obowelmovement, haven't we figure that out yet?

NoDebt's picture

Why would you invest in capex when you're already selling everything you can make?

Wouldn't that money be better invested in a nice stock buy-back plan instead?

I'm sorry I ever doubted central planning.  Those guys really do know what they're doing.

RevRex's picture

Are you gay or something?

LawsofPhysics's picture

Real infaltion starting to show up everywhere (not just equities) and despite the current velocity of money, scary shit.

and just for good measure...

Fuck you Greenspan, Bernanke, Yellen!!!

economics9698's picture

Five years from bottle to throttle.

IronShield's picture

I like my Philly with cheddar and some fries.  Does that go against the wookie's nutritional recommendations?

IronShield's picture

Of course and peppers; and let's not forget the 'shrooms!

That just might meet the requirements.  Whew, just in time, stand down DHS.

AmericasCicero's picture

As an aside, this guy just called Durden out:


He left his email, let him know your thoughts!

Quinvarius's picture

Gold is up today so he is wrong.  Just using his own logic.

buzzsaw99's picture

it says nothing. zh has content, noah has nothing. i am ambivalent about gold but feel dumber for having read that.

IronShield's picture

Please papa, tell us the story about the Bloomberg again; that deep, dark cesspool of limited intelligence and complicit refuse.


Edit: Not "conspiratorial refuse" rather "complicit refuse."  Sonz of beeches; either way.  ;-)

madbraz's picture

Anyone who believes this is actually a real survey, conducted with real business people, randomly selected, has to have their head examined.


What about making it an open survey, on the internet, with contact information provided by the business people who filled the survey so that it is transparent?     Yeah, right....

PeeramidIdeologies's picture

Easy now! Your describing something akin to fundamental economics. A system for which there is no current use for. Now settle down and eat your meat.

NOTaREALmerican's picture

Looks like everybody who BATATH was right.    I guess it pays to be a pathological optimist.  

q99x2's picture

A "U" shaped recovery. Leave it to Pennsylvania to come up with a load of crap.

Space Animatoltipap's picture

"Note 2. All data are seasonally adjusted." Seasonal adjustment means adjustment according to the preference of the Dark House socialists. 

Postal's picture

Why invest in capex when there's blow and hookers?

HUGE_Gamma's picture

and the f*^*ing 10year yield!!

NOTaREALmerican's picture

Yield?   Who needs yield when you can always sell higher?

TabakLover's picture

SP up 5 on bad news (Homes).... up 2 on good news (Philly).   I give up

NOTaREALmerican's picture

You have to adjust that by the API (Asset Price Index) which measure the rate of good inflation.

buzzsaw99's picture

buy the ath bitchez!

Squid Viscous's picture

i think Sand-dick needs to layoff some folks... holy cow, smells like momo-toast burning

JD59's picture

More Bloomturd communist propaganda against Gold. I love the fact that Gold is suppressed! I can buy more of it cheaper with my fiat Fed paper. This can't go on forever!