Today’s Economics – Mostly Lousy With A Spot of Deflation
May 16, 2013 11:06 am
If you want a reason to be bullish – the economic numbers from today should not be looked at. In fact, even as markets will probably drudge higher throughout the day (as the recent pattern has been) the facts are clear that manufacturing in the U.S. in slowing.
The Philly Fed is one of the more important indications of manufacturing and that is flashing weakness. Of course that is on top of lousy reports from the past weeks on factory orders and ISM.