Philly Fed Region Negative Again, Eighth Time in Nine Months

by Mike ‘Mish’ Shedlock
Mish Talk

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.

Continue Reading at…