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April Empire Fed Manufacturing Plunges, New Orders Crash To Jan 2013 Lows
But it's April... the weather-bounce is supposed to be here. Empire Fed Manufacturing tumbled to -1.2 in April (missing expectations of a post-weather-bounce to 7.17) from 6.9 in March. Across the board the report was painful as Prices Paid surged, employment plunged, and work hours tumbled. Hope rermains as the business outlook improved (but even there capex and new orders were weak) New Orders stood out as it crashed to its lowest since Jan 2013. It appears there is more afoot than just weather...
No Weather Bounce!!
As New Orders collapsed...
Charts: Bloomberg
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big deal, they collapsed many times before and recovered down the road.
besides its different this time.
the market will not collapse until hillary is elected ~sep2016
Contained! No contagion! What am I missing here?
Well, the now have to account for the thaw followed by seasonal allergies. Then it's 1st mosquitos of the year and and the soon-to-be-coming dreaded lawn-cutting season....
you forgot to mention that it snowed that one day in the beginning of April - that had a big impact.
Oh God....I FORGOT about that snow!....there Goes the Oct report!
I blame the Catalonians!!!!
Steve LIESman: "This just doesn't make any sense, the fundamentals are strong."
Yawn. Get back to me when it's below the 2013 lows.
Sentiment is getting pretty extended on the bullish side-according to woddy dorsey at sentimenttiming.com. He is and has been the best I have followed. Take a look