Philly Fed index smells like a week-old cheesesteak
The Philadelphia Fed index of manufacturing activity stunk up the joint in December. The overall index came in at -5.7, down from +8.2 in November and much worse than the forecast for +6. That's the worst reading since April 2003 (-7). Yuck.
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I've been researching and writing about the financial markets since 1997. I'm fascinated by interest rates, financial stocks, and the housing market -- and I'll do my best to keep you interested in them at this blog, too. Enjoy!