Philly Fed manufacturing index slumps into negative territory in February
Source: Marketwatch
The numbers: The Philadelphia Fed manufacturing index in February dropped sharply into negative territory. The index fell to a seasonally adjusted reading of -4.1 from 17 in the prior month. This is the first negative reading since May 2016.
Any reading below zero indicates worsening conditions. Economists polled by Econoday expected a reading of 14.
What happened: Below the headline, the indexes for new orders and shipments dropped sharply into negative territory. The employment indicator remained positive. Firms were generally optimistic about the outlook for the next six months.
The big picture: The sharp drop fits with other manufacturing data suggesting the U.S. is now succumbing to the global industrial downturn. The Empire State index rebounded in February but remained close to a two-year low.
Read more: https://www.marketwatch.com/story/philly-fed-manufacturing-index-slumps-into-negative-territory-in-february-2019-02-21?mod=newsviewer_click
I would not normally post this, but it is truly a huge drop and is a closely watched gauge of economic activity...
With an expected drop of 3 points becoming a real drop of 21+ points ... this could be the first of many bad readings ...
blue-wave
(4,361 posts)Baltic Dry index taking a dive the last few months per the chart in the link:
https://tradingeconomics.com/commodity/baltic
And housing, well what can I say? I've been closely watching specific properties in my area. They've been listed for months. All of a sudden they are de-listed for a day or two, but reappear with a lesser list price. It's a way for realtors to not show a price decrease on a listing. If they would have kept the original listing up and dropped the price, it would have been noted on the listing.
https://www.cnbc.com/2019/02/21/existing-home-sales-january.html
Hang on to your hats, it could be a very bumpy ride.
SWBTATTReg
(22,156 posts)price decreases on listings. I guess one would have to ask how many listings did the particular property have on it over the last xxx number of months? Thanks again.
duforsure
(11,885 posts)When he knows business starts are dropping like a rock now, and more are moving away fro the USA , many because of him and his tactics he's using against them all.