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The Philly Fed number has never been this low without the economy being in recession having just recorded the 21st-worst reading in over 43 years! [While we are not in an officially sanctioned recession yet this new survey strongly suggests that that unwelcomed time has come.] Words: 260
So says Scott Krisiloff (www.avondaleassetmanagement.blogspot.com) in an article* which Lorimer Wilson, editor of www.munKNEE.com (It’s all about Money!), has further edited ([ ]), abridged (…) and reformatted below for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement. Krisiloff goes on to say:
The bars [in the chart below] confirm that the survey doesn’t go this low without us already being in a recession or about to go into one within the next couple months.
Let’s hope for a revision [but if we don’t] maybe we should start penciling in a new gray bar to the chart above!
*http://avondaleassetmanagement.blogspot.com/2011/08/update-philly-fed-chart-with-recession.html
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Editor’s Note:
- The above article consists of reformatted edited excerpts from the original for the sake of brevity, clarity and to ensure a fast and easy read. The author’s views and conclusions are unaltered.
- Permission to reprint in whole or in part is gladly granted, provided full credit is given as per paragraph 2 above.