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Dallas Fed Unchanged in November, Despite 11 Of 15 Components Declining
Of the 15 sub-indices under the Dallas Fed Manufacturing survey, only 4 improved in November with New orders tumbling, and wages, number of employees, and average workweek all sliding notably. So, with that in mind, thanks to a surge in 'hope'-based business activity outlook 6 months forward (from 13.3 to 18.3), the Dallas Fed printed 10.5 (against expectations of 9.0) and unchanged from October's 10.5. The number of employees shrank to its lowest in 6 months.
Dallas Fed headline UNCH...
But under the surface it's a total mess...
So - Hours Worked is going to surge in the next 6 months... but employment is going to tumble... and prices received are going to soar as growth rates explode even as New orders are expected to drop.!?
Charts: Bloomberg
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Nothing to see here, move along, and buy some more Amazon stock....
HOPE - its whats for dinner
AD
"'hope'-based business activity"
Wait - where have we heard this 'hope' thingy before?
The logical dichotomies pointed out in the article are stretched so far that either the rubber band will snap violently, or people will finally start disregarding the regional FED reports. Anything to discredit FED economists is good in my book. We can 'hope' can't we?
Someone tell Tyler that the Fed numbers are not supposed to be analyzed, that the bland summary part of the report is what counts. Fed numbers crunchers on SSRIs just fill in new bogus numbers into their spreadsheet and, voila, they produce a new analysis that is just as wild-eyed wrong as those on previous reports. I wonder if the Fed is hiring.
Not to worry, these numbers will be run through the Krugman filter and show a 5% GDP growth for next year.....
lies, lies, and more lies...
dept of b.s. & lies
what a shit show
Now, don't go demeaning good, honest feces.....
All future expectations should be removed from these fairly worthless indicators, and only actual performances should be used for comparisons, unadjusted, and for the last twelve months compared to the same period one year prior.
Everything else is just a waste of time.
But without adjustments and numbers to manipulate, what would the poor FED economists DO?
Hit the crack pipe and heavy masturbation???
So…they are hiring Obama’s illegal aliens on the side….
Santa is restructuring (laying) off the green elfs and moving operations to China to hire yellow elfs.
Yellow elfs work much cheaper.
Green shoots, mustard seeds. Drop in gas prices will mean more consumer spending (nevermind parasitic health insurance premiums and deductibles). Jobs? Who needs a job? That's what credit cards are for! Mom and Dad will make it better.
"Drop in gas prices will mean more consumer spending"
The half life on that is pretty short.
The unicorns are going long.
A 90% chance of the Federal Reserve doing QE 4 and continuing QE to infinity.
Print until the US dollar takes a huge hit.
i raise, all in. 100% chance...
they have no fucking choice, if they cut QE in january in mid february half planet is nuked.
Some of the finest magicians work at the Dallas Fed i'll have you know. Now you see it , now you don't.
Calm down, skewed statistics are a completely normal symptom in central planning.