by Mike ‘Mish’ Shedlock
Whether the economy is in recession remains to be seen, but the manufacturing recession continues without a doubt.
The Empire State region went back into contraction this month and the Philadelphia Fed Region is back in contraction for a second month after a one month jump higher in March.
This was the eighth negative reading in nine months for the Philadelphia region.
The Philly Fed region disappointed again this month with a reading of -1.8 vs. a Bloomberg Econoday consensus estimate of +3.0.