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Philly Fed Creeps Back Into Positive Despite Collapse In Prices Paid, Workweek

Tyler Durden's picture




 

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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Thu, 11/19/2015 - 09:40 | 6812807 Bill of Rights
Bill of Rights's picture

Just make it up, no one cares anyway...

( The Fed )

Thu, 11/19/2015 - 09:49 | 6812825 KansasCrude
KansasCrude's picture

Lipstick on a pig.....oink oink wease is BACK.   When did the FED start doing stand up? 

Thu, 11/19/2015 - 09:56 | 6812848 Mark Mywords
Mark Mywords's picture

Hope. Faith. Prayer.

Three worthless words in an increasingly worthless world.

Well, not the world. The human race. It's wholly worthless.

Thu, 11/19/2015 - 10:25 | 6812963 MFL8240
MFL8240's picture

Anything with the word "FED" in it is a lie!

Thu, 11/19/2015 - 11:36 | 6813331 gm_general
gm_general's picture

Isn't the massive flow of hopium being channeled from Afghanistan?

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