Philly Fed Flounders To 3-Month Lows As New Orders Tumble | Zero Hedge

Philly Fed Flounders To 3-Month Lows As New Orders Tumble | Zero Hedge: "March's epic - and utterly embarassing - spike is now nothing but an aberration as for the eight month of the last nine, Philly Fed's business outlook remains firmly in negative territory. With hope-strewn expectations of a +3.0 print, Philly Fed dropped from -1.6 to -1.8 with New Orders tumbling back into contraction. While the headline data dropped, "hope" was also dashed as 6-month expectations for inventories (not good for GDP) and employees (not good for Fed meme) tumbled."



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