Despite
all the talk of a great US economy ready for rebirth now that The Fed
has taken its foot off the neck of expansion, US macro-economic data has
collapsed (absolutely and relative to expectations) in recent weeks to
its lowest since July 2017 - taking on the ugly title of 'worst economic data in the world'...
On Monday, we got the Empire State Survey, a survey of manufacturing in New York.
月曜に私どもはEmpire State Surveyの最新データを入手した、ニューヨークの製造業に関する調査だ。
Importantly, this is one of the few “soft” data points we have for
April, so its message is important. It turned up slightly from last
month, showing some stabilization and beating estimates, but it is still
well down from 2018 levels. Underneath the surface, the data was a bit less encouraging. In the 6-month outlook, expectations for general business conditions and new orders plunged.
Industrial production undershot monthly estimates, falling .10% when
it was expected to rise .2%. This brought the 1-year percent change down
to 2.8% from a rate about twice that of last September.
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