The last time The Dallas Fed’s business survey collapsed at this pace, the US economy was in the heart of its last recessionary contraction…
Against expectations of a modest drop from 17.6 last month to 15.0 in December, the Dallas Fed Manufacturing survey collapsed to a stunning -5.1 – dramatically below the lowest analyst eastinate of +13.0.
Current new orders increased as did wages and benefits but the headline index was crushed by a plunge in hope – as future expectations crashed from 38.0 to 35.6 to 25.7 to 3.2!! in the last few months…
Erasing all the post Trump bump.
via RSS http://bit.ly/2ThWHEr Tyler Durden