The diversified “we’re not just oil” economy continues to collapse. Missing expectations for the 17th month of the last 20, Dallas Fed printed -31.9, now in contraction for 14 straight months. While New Orders, Capacity Utilization, Inventories, Prices Paid, Prices Received, Wages, Employment, Hours Worked and CapEx all fell, but future expectations “hope” rose notably from -24.0 to -2.1 (but obviously still a negative expectation).
“Since Lehman”…
“Since Lehman”-er…
The breakdown shows weakness across the baord…
We leave it to Dallas Fed respondents to describe reality…
“Last October we lost about 40% of our volume due to customer internal consolidations because of the weak economy“
“Don’t know if it is the weather, uncertainty created by the presidential election, or just a slowdown in the world economy, but things are definitely slowing down“
“The low oil price is helping our cost side, but the decrease in oil jobs is concerning“
“We cannot figure out why it is so slow right now, other than we are indirectly impacted by the downturn in energy. We are four months into our fiscal year and are behind 21 percent compared with last year on incoming orders, and last fiscal year was a down year!“
Charts: Bloomberg
via Zero Hedge http://ift.tt/1ThN4U0 Tyler Durden