Monday, August 23, 2010

US Philadelphia Fed - The August Philadelphia Fed manufacturing survey turned negative for the first time since July 2009

PHLX US Philadelphia Fed - The August Philadelphia Fed manufacturing survey turned negative for the first time since July 2009, declining from 5.1 in July to -7.7. The ISM-weighted composite index declined from 50.0 to 46.3, also indicating declining manufacturing activity. Both the Philadelphia Fed survey and the Empire State survey (released earlier in the week) give a sour taste of manufacturing activity in August.

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