When hope dies... against expectations of a small rise from March to a 16 print, April came in at a disastrous -3 (the worst data since Sept 2016).
From record highs just a couple months ago, Richmond Fed manufacturing has crashed by the most in the survey's 25 year history into contraction...
It was a bloodbath below the surface too.
New orders collapsed to -9 from +17, order backlogs plunged to -4 from +10 and while wages and employees rose, workweek dropped notably.
Finally, prices paid rose once again even as new orders crashed...
Must be the weather, right?
Nessun commento:
Posta un commento