Thursday, September 21, 2006

Philly Fed Survey Fell Off Of A Cliff

Growth Stalls this Month
The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, dropped from 18.5 in August to -0.4 this month. This is the first negative reading in the index since April 2003

Six-Month Forecast Falls Significantly
Expectations for future manufacturing growth fell sharply this month. Indicators for future activity, new orders, shipments, and employment all declined from their August readings. The future general activity index fell from 7.4 to -0.2, its first negative reading since January 2001

See the full report here.
posted by TimingLogic at 12:52 PM