From 5 years highs to 6-month lows in one month – Empire Fed manufacturing missed expectations by the most since June 2010 as New orders collapsed. The employment sub-index rose but workweek tumbled. Yet again, as we have described in greast detail, US economic data surges into the end of Q3 (government fiscal year-end) on spend-spend-spend year-end budget flushes, then collapses and disappoints.
via Zero Hedge http://ift.tt/1sLEtMa Tyler Durden