Philly Fed Business Survey Unexpectedly Slumps To ‘Worst Since Lehman’
April 20, 2023 | Tags: ZEROHEDGEPhilly Fed Business Survey Unexpectedly Slumps To 'Worst Since Lehman'
Tyler Durden Thu, 04/20/2023 - 08:48
Shortly after The Empire Fed Manufacturing survey unexpectedly surged back into expansion, The Philly Fed Business survey unexpectedly puked to its lowest (ex-COVID lockdowns) since March 2009.
Analysts expected a rebound from -23.2 to -19.3, the headline plunged to -31.3 in April.
This is the eighth straight month of contraction (10 of the last 11 months).
Under the hood, prices paid fell to 8.2 from 23.5, but prices received fell to -3.3 from 7.9...