Of the 15 sub-indices under the Dallas Fed Manufacturing survey, only 4 improved in November with New orders tumbling, and wages, number of employees, and average workweek all sliding notably. So, with that in mind, thanks to a surge in ‘hope’-based business activity outlook 6 months forward (from 13.3 to 18.3), the Dallas Fed printed 10.5 (against expectations of 9.0) and unchanged from October’s 10.5. The number of employees shrank to its lowest in 6 months.
Dallas Fed headline UNCH…
But under the surface it’s a total mess…
So – Hours Worked is going to surge in the next 6 months… but employment is going to tumble… and prices received are going to soar as growth rates explode even as New orders are expected to drop.!?
Charts: Bloomberg
via Zero Hedge http://ift.tt/11qGPnC Tyler Durden