Kansas City Fed Survey Misses For 8th Straight Month - Flashes Recessionary Signal

The last two times the Kansas City Fed survey was this low, the US was in recession.The KC Fed survey has missed expected for eight straight months, falling to -9 in August from -7 (missing the -4 estimate). Across the board, underlying components were ugly with Shipments collapsing, Order backlogs echoing earlier surveys in demise, New Orders tumbling, and Prices received crashing.

 

 

But still the mainstream sees "no recession imminent"

 

Charts: Bloomberg