The Dallas Fed Manufacturing survey soared – for the 6th straight month – to 24.5 in February (smashing expectations of a modest dip to 19.4). This is the highest since April 2006.
This is a 4 standard deviation beat of analysts’ expectations, well north of even the highest forecast.
While the headline data soared, we note, however, that wages declined, workweek dropped, prices paid surged, and new orders tumbled.
Another soft survey ‘beat’ as hard data (core durable goods) misses.
As good as it gets?
via http://ift.tt/2m2G8PP Tyler Durden