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Posted on 07/30/2012 8:55:52 AM PDT by tcrlaf
With expectations for a muddle-through slight positive print, the headline Dallas Fed index just printed at -13.2 (exp. 1.9).
This is its lowest level since September of last year and the biggest miss of expectations since May of last year. The headline index is teetering on the edge of its worst levels since 2009 as the month to month change in the general business activity index dropped a massive 19pts - its largest drop since April 2005. Specifically it appears the outlook for capital expenditures was among the largest sub-index to have its hope crushed - and this strongly suggests (and confirms) a sub-50 ISM print.
The Dallas Fed general activity index plunged its most in over seven years...
(Excerpt) Read more at zerohedge.com ...
Just to remind you:
MISS: July Philly Fed Index Disappoints At -12.9 HUGE MISS: Richmond Fed Plummets To -17
Chicago PMI gets released tomorrow...
THIS IS YOUR ECONOMY ON HOPIUM.
Bush’s fault.
Can someone translate what this index means?
“I wonder if the NBC Evening News will even bother to mention this?”
Did they or anyone in the MSM bother to mention the horrible Q2 GDP annualized rate of 1.5%? This meager growth rate means the economy won’t be increasing jobs anytime soon, certainly something that most would fair minded people would consider newsworthy. All the MSM cares about is protecting the TOTUS from criticism.
It means the stock market will go up. Up is just like down, take your pick, but it doesn’t actually go down, as it is not permitted.
In other words, bad news = good news. Until it isn’t.
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