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Phily Fed Slides To Weakest Since Election
08-17-2017, 09:21 AM,
#1
Phily Fed Slides To Weakest Since Election
Phily Fed Slides To Weakest Since Election

<p>Following <a href="http://www.zerohedge.com/news/2017-08-15/new-york-fed-manufacturing-surges-highest-three-years-profit-margins-crushed">Empire Fed's exuberant six-sigma beat and surge to three year highs</a>, Philly Fed failed to live up to its neighbor's promise, dropping from 19.5 to 18.9 in August (a small beat of 18.0 expectations).</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/08/17/20170817_philly.png"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/08/17/20170817_philly_0.png" style="width: 600px; height: 314px;" /></a></p>
<p>This is the <strong>weakest print since Nov 2016</strong>, despite a <strong>surge in new orders and average workweek as inventories tumbled</strong> and emplyment slipped</p>
<p><strong>Hope remains alive and well though.</strong></p>
<p>The diffusion index for future general activity increased from a reading of 36.9 in July to 42.3 this month, its highest reading in four months. <strong>Over the next six months, nearly 49 percent of the firms expect increases in activity, and only 7 percent expect decreases.</strong></p>


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