Take your pick…
Empire Fed had fallen 4 straight months until today when March printed 22.5 (15.0 exp, 131. prior) with prices paid and new orders higher but employment and outlook lower.
Philly Fed has drifted lower in a zig-zag pattern and March continued that with a downturn to 22.3 (23.0 exp, 25.9 prior) with prices paid lower, new orders higher, employment higher, and outlook higher.
So everything’s opposite.
Empire up, Philly down… both the same now…
But as we have noted previously, Soft data is once again diverging higher from the declining real hard data in the US economy…
via RSS http://ift.tt/2IuvGsL Tyler Durden