philly fed´s economic gauge is negative for forts time since 2003

anscheinend läift das 3. quartal von monat zu monat schlechter. nach der logik der letzten wochen müßte der dow heute ein neue allzeithoch hinlegen..... :-)

dank geht an calculated riskhttp://calculatedrisk.blogspot.com/2006/09/philly-fed-no-growth.html

Philly Fed manufacturing index shows growth stalled in Sept

Manufacturing in the Philadelphia region stalled in September, the Federal Reserve Bank of Philadelphia reported Thursday. The Philly Fed diffusion index plunged to -0.4 in September from 18.5 in August.

This is the first negative since April 2003. Readings below zero indicate contraction. The decline was much larger than expected. Economists were expecting the index to slip only to 14.3, according to a MarketWatch survey.

The new orders index dropped to -1.3 from 15.7, while the shipments index fell to -6.8 from 22.3. Inflationary pressures eased slightly. The prices paid index dropped to 38.1 from 45.3. Overall employment was higher however. The employment index rose to 10.7 from 8.2

nochmal calculated risk:

"Do you expect the following capital expenditure categories in 2007 to be higher than, lower than, or the same as in the current year?"

Overall manufacturers currently have lower expectations for investment in all categories as compared to December 2005, especially investment in structures. This is important because many analysts have pinned their hopes for an economic soft landing on future business investment. And the steep drop in anticipated structure investment is especially critical since it was hoped that jobs lost in residential construction would move to nonresidential construction. Of course this is only for manufacturers, and the survey only covers the Third Federal Reserve District.

jan-martin