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Another Regional Fed Survey Collapses - Chicago Activity Index Hits 6-Month Lows
From Dallas to Philly, and from New York to Richmond, the regional Fed surveys have been ugly. So not to be outdone, Chicago Fed's National Activity Index collapsed from +0.34 to -0.41 (dramatically missing expectations of 0.24) and testing 6-month lows. The CFNAI has now missed expectations for 7 of the last 9 months.
Ugly year so far...
The reading below zero indicates below-trend growth in the national economy and easing pressures of future inflation.
Charts: Bloomberg
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And another EDDY
And how many times was it seasonally adjusted to improve it?
Another nail in the coffin of great US growth story - not that it was not dead a dozen times already
Any economic model that requires growth to continue forever and ever in a finite biosphere with finite resources is doomed to fail, period.
Boom bust, inflation-deflation, success-failure, equilibrium bitches, on a long enough timeline reality and the laws of physics and Nature will re-assert themselves. After selling out our manufacturing sector in the 70's and 80's more and more of GDP has been nothing but useless paper-pushing, fuck em.
I remain long sharecropping and guillotines.
The current trade range will easily accomidate a 2.5% drop today.
Models are magical and you can make them say anything you want. Unfortunately the real world isn't a model and while it can be bent for awhile, it merely builds more pressure and when it finally releases, it is much worse. They'e pushed things to the point of a massive collapse and nothing will stop it.....
The only ShiTcago activity I see increasing are property tax, muggings and purse snatching
http://news.yahoo.com/chicago-mayor-prepares-large-property-tax-hike-185...
Shitcago- a good place to be FROM.
...and murder.
Chicago is pretty good at murder.
collapse is a pretty strong word. It "collapsed" 6 months ago and what happened? nothing. A down month or two does not make a trend. Show the 2008/2009 graph. That is a "collapse".
This could turn out to be a blue ribbon day!
Good news stacked upon good news!
What do they tell twenty somethings just entering the work force if America’s best years are behind us? If “growth” is dead and new jobs pay nothing, what should they do? “Invest in the stock market, we expect the Dow to be at 7K within five years…or you can put your money into savings at 0.01%!” Don’t worry though, millions more uneducated immigrants will pour in and they work cheap. Or maybe, just remain a “student” for twenty more years, and use student loans. What is left? Live a life of debt in an apartment? Hell, no point buying a house that depreciates from bubble prices for years to come.
Drive a moped, live ten to an apartment, maxed out plastic…sounds like a third-world country, or more and more places in the U.S. There appears to be no way back, since even the oligarchs’ plan to reduce “surplus” population through perpetual wars, won’t be enough.
Entitlements already at record levels, will grow, and congress can never stop the reckless spending or it all collapses. Trump is delusional if he thinks he can fix this mess. Too far gone now...tough times ahead thanks to living way too large.
Paging Mr. Yellen...
BTFD Yellen is going to ramp the markets with her beautiful appearance.
Or sell the face
this is not a regional survey...it's a national index of 85 components...that also makes your headline on today's KC Fed regional survey wrong...
please understand these reports before writing about them..
PS it should read that it fell from +0.51 to -0.41