@LizAnnSonders – December @philadelphiafed Index at -13.8 vs. -10 est. & -19.4 prior; new orders sank further into contraction, prices moved down but are still expanding, delivery times sank, average workweek now firmly in contraction … employment fell to lowest since June 2020
I had never heard of a diffusion index, so I looked it up and found the source for the tweet.
https://www.philadelphiafed.org/surveys-and-data/regional-economic-analysis/mbos-2022-12
More from that source:
“Manufacturing activity in the region continued to decline overall in December, according to the firms responding to this month’s Manufacturing Business Outlook Survey. The survey’s broad indicators for current activity were all negative. The firms on balance also reported a decline in employment. The future indicators improved, suggesting that the firms expect overall growth over the next six months.”
Interesting chart. The current and future activity always move in sync with one another … EXCEPT … at the start of the pandemic hysteria in early 2020. The future activity summarily ignored the current activity and rose while its corollary plummeted.
The next anomaly … we’ve been in a long plunge of future and current activity that started right about the time massive government $$$ bailouts started hitting bank accounts.
Related: comments on Mr. Wonderful in FTX tweet thread…this guy ran for CPC leader?
Like the fake indian on the sask bench…
Like someone said, Fake, fake, fake
This would be easier to understand if it rhymed like a Dr Suess style cartoon.
This popped up in my YouTube suggestions today.
https://youtu.be/rxBUPBA6qQQ