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Philly Fed Collapses To Lowest Since Feb 2013 As 'Hope' Crashes
Following last month's bounce, driven by a surge in 'hope', The Philly Fed collapsed to -5.9 (dramaticlaly missing expectations of +1.0) and hitting its lowest levels since Feb 2013. With 'hope' plunging back to its lowest levels since Dec 2012, there was little to support the dream as Prices Paid and Received plunged, and New Orders cratered to 3 year lows. Future CapEx expectations crashed as did workweek and employment outlooks.
Not unequivocally good...
Charts: Bloomberg
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It will be the shortest rate hiking cycle ever....but they already know that at the Fed.
NIRP in 2016.
We need to double down on interest rate hikes.....cause no one would expect it.
(snort!)
I like it!
Moar "Hope & Change " for ya, bunky
don't bank on it - they need to "look good"
99% of what is being written about the "rate hike" is a load of steaming.
Money and debt is useless to the avarage joe. Regulation, taxation, licensing and legal tort threat has shut down all local competiton. That's precisely the way the big boyz want it.
The "rate hike" is simply the fee fed.gov is charging the big boyz for having kicked out the competition and for implementing and maitaining their monopoly.
that's all.
I am going to take a wild stab in the dark here.... the weather again??
Yes, it is too hot this winter...people in NE were still mowing their lawns and had no time to go shop.
We'll be back to NIRP in a matter of days.
Manufacturing???
WTF is Manufacturing?
Everyone with any sense understands Healthcare is the Ticket to a good wage..
or "working" for the Government.
When holiday numbers suck big time you know the first excuse they're going to roll out is the warm weather in the northeast.
The media's politically correct scripted rhetoric will be Climate Change. Shoppers believed it was 2 degrees too warm to make it out shopping for the Christmas Holiday festivities.
Holiday shopping & travel is booming.. Probably growth closer to 8% over last year not the 3.7% predicted. The biggest problem is lack of inventory of most items and that retailers were not able to find even barely qualified workers -- even as many raised pay closer to $15 an hour for this holiday season with the majority of 'seasonal hires' getting offered permanent full time positions
I'm sure the rate hike will fix this.
If not this one, then the one coming in March will for sure.
Obama fundamentally transforming the United States of America into a 3rd world cesspool.
Obama: "Fundamentally Transforming the United States of America ...
he's wildly successful !
Shoeshine boy in chief can run a economy into the ground.
Some of the collapse in data is due to expectations of the Fed rate hike - they cut back rather than stick their neck out. With hints of more tightening, that won't change.
Is it this news that's sending PMs into a waterfall??? Someone do me dry up up the rear so I can forget AU and AG today.
Gold now wll below $1050.
And going a lot lower too.
Gold has been one of the assets most hyped and inflated post crash.
The miracle metal is going to preserve owner's losses, not value/worth.
Rate hike? LOL. All they have to do is stop buying the abundance of Treasury bonds dumped onto the market and the rate will hike itself. It is all Kabuki theater with a strong dose of smoke and mirrors.
They dare not let the markets go free. They will stand over the corpse in the casket and declare: he is looking pretty good.