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NY Fed Survey: HUGE DROP!


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#1 Rogerdodger

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Posted 15 August 2022 - 08:21 AM

OUCH!

KITCO

New York Fed's Empire State Survey drops to -31.3
Manufacturing in the New York Region has fallen to its lowest level since 2019 when activity ground to a halt at the start of the COVID-19 pandemic. The report said that this was, “the second largest monthly decline in the index on record, and among the lowest levels in the survey’s history.”

Some economists note that the surprise drop in manufacturing could revive fears that the U.S. economy is headed for a hard landing as the Federal Reserve tightens interest rates to cool inflation pressures.

 

GOLD DROPS 1%



#2 Rogerdodger

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Posted 15 August 2022 - 08:44 AM

China Shocks With Rate Cut as Data Show 'Alarming' Slowdown...

Retail sales, industrial output and investment all slowed and missed economists estimates in July. The surveyed jobless rate for those aged 16-24 climbed to 19.9%, a record high and headache for the Communist Party as it gears up for a major congress in coming months that’s expected to give President Xi Jinping a precedent-defying third term in power.

“July’s economic data is very alarming,” said Raymond Yeung, Greater China economist at Australia & New Zealand Banking Group Ltd. “Authorities need to deliver a full-fledged support from property to Covid policy in order to arrest further economic decline.”


Edited by Rogerdodger, 15 August 2022 - 08:48 AM.


#3 da_cheif

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Posted 15 August 2022 - 09:58 PM

"in order to arrest further economic decline.”    pump it pump it up

 


Edited by da_cheif, 15 August 2022 - 10:01 PM.


#4 OEXCHAOS

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Posted 16 August 2022 - 07:01 AM

This is a mess. Demand destruction is a rotten (and politically unpalatable) way to "control" inflation. We stand a very good chance of a nasty inflationary recession. This is also a tricky thing to trade.


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#5 MikeyG

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Posted 16 August 2022 - 07:48 PM

New York is mess. No one wants to live there that is in business. They have high taxes and regulations upon regulations. Meanwhile, The South is booming. Its a tale of two countries. NY is anti-business, I would ignore this survey going forward. Its meaningless and will become even more so as the population dwindles in that far left state.

Edited by MikeyG, 16 August 2022 - 07:48 PM.

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#6 slupert

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Posted 18 August 2022 - 06:38 AM

OUCH!

KITCO

New York Fed's Empire State Survey drops to -31.3
Manufacturing in the New York Region has fallen to its lowest level since 2019 when activity ground to a halt at the start of the COVID-19 pandemic. The report said that this was, “the second largest monthly decline in the index on record, and among the lowest levels in the survey’s history.”

Some economists note that the surprise drop in manufacturing could revive fears that the U.S. economy is headed for a hard landing as the Federal Reserve tightens interest rates to cool inflation pressures.

 

GOLD DROPS 1%

and the rste hikes still havent filtered through the economy yet.



#7 SemiBizz

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Posted 18 August 2022 - 01:05 PM

Double digit interest rates eventually, not about time so much - as price...

 

Everybody looking for a pivot is going to be sorely disappointed.


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#8 Rogerdodger

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Posted 18 August 2022 - 02:24 PM

Cancel Thanksgiving?

 

Turkey inflation near 80%! 

 

 

 As Roseanne Roseannadanna would observe:

 

It's always somethin!"

  "Fresh Chicken is expensive too!"


Edited by Rogerdodger, 18 August 2022 - 02:27 PM.