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Dallas Fed Manufacturing Contracts For 9th Month In A Row As Jobs, Workweek, & CapEx Collapse

Tyler Durden's picture




 

August's regional Fed survey collapse was unanimous... Dallas, Richmond, New York, Philly, Chicago, and even Kansas City all flashing recessionary warnings. And so now we begin to see September's data and Dallas Fed prints -9.5 - the 9th negative (contractionary) print in a row. While a small beat (against -10 exp.) and rise from August's -15.8, under the surfacxe the data is a disaster with wages lower, employees contracting drastically, and average workweek collapsing. Having noted that "the quantitative easing hangover is starting" in August, it appears - judging by the biggest plunge in Capex in 5 years.

The headline survey has now been in contraction for 9 straight months...

Charts: Bloomberg

With CapEx collapsing...

Charts: Bloomberg

Just six short months ago, (now former) Dallas Fed head Richard Fisher was ushered on to the propaganda channel to puke out platitudes about how low oil prices was "net positive for Texas," because Texas is a diverse state and being a consumer society, it's "good for everyone."

 

 

Yeah - not so much Dick...

 

 

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Mon, 09/28/2015 - 10:43 | 6601712 Dr. Engali
Dr. Engali's picture

Moar buybacks should fix the CapEx problems. Rate hike imminent bitchez! 

Mon, 09/28/2015 - 10:44 | 6601731 NoDebt
NoDebt's picture

I thought buybacks WERE Cap-Ex.

 

Mon, 09/28/2015 - 10:55 | 6601770 Handful of Dust
Handful of Dust's picture

It's the "Stawk Market 3-Step":

 

1) issue bonds to raise cash; 

2) stawk buybacks to prop stawk up; and,

3) Upper Management, CEOs and BOD cash in their options.

 

 

... then default later after everyone's cashed out and has resigned and/or moved on.

 

Mon, 09/28/2015 - 10:41 | 6601716 KnuckleDragger-X
KnuckleDragger-X's picture

Nothing to see here, move along......

Mon, 09/28/2015 - 10:43 | 6601722 NoDebt
NoDebt's picture

Yes, but it's getting worse at a declining rate.

- Every CNBC commentator

Mon, 09/28/2015 - 10:45 | 6601737 KnuckleDragger-X
KnuckleDragger-X's picture

Well even in freefall, you eventually reach terminal velocity.....

Mon, 09/28/2015 - 10:47 | 6601750 Arthur Schopenhauer
Arthur Schopenhauer's picture

United States Dallas Fed Manufacturing Business Index climbed from previous -15.8 to -9.5 in September

Mon, 09/28/2015 - 10:55 | 6601779 Bill of Rights
Bill of Rights's picture

Maybe the goverment can buy the city and towns more Chevy police cars to boost the numbers . Rediculous the scam that has been taking place the last 7 years, makes the savings and loan scam look like a drop in the bucket .

Mon, 09/28/2015 - 12:08 | 6602091 Mini-Me
Mini-Me's picture

His name is Dick for a reason.

Mon, 09/28/2015 - 12:16 | 6602127 starman
starman's picture

"its not the fall that hurts its the landing"

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