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Philly Fed Creeps Back Into Positive Despite Collapse In Prices Paid, Workweek
After 2 months of notably unusual negative prints, November's Philly Fed rose from -4.5 to +1.9 (the best MoM rise since June). Sadly, the survey's headline gains were driven by a big surge in 'hope' as the outlook surged from 36.7 to 43.4, as under the covers of the current business environment was a collapse in prices paid, further deterioration in new orders and shipments, and a plunge in average workweek.
Philly Fed remains well below 'recovery' averages...
As the underlying components expose some harsh realities...
As the average workweek collapses...
Charts: Bloomberg
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Just make it up, no one cares anyway...
( The Fed )
Lipstick on a pig.....oink oink wease is BACK. When did the FED start doing stand up?
Hope. Faith. Prayer.
Three worthless words in an increasingly worthless world.
Well, not the world. The human race. It's wholly worthless.
Anything with the word "FED" in it is a lie!
Isn't the massive flow of hopium being channeled from Afghanistan?