For the second month in a row, the Richmond Fed Manufacturing survey tumbled more than expected, sliding from -5 to -11 (considerably worse than the small bounce to -4 expected)…
Source: BloombergThat is a swing from April 2022 highs in September to post-COVID lows in December.All three component indexes were lower:
Worse still, the average growth rates of prices paid and prices received increased in December, and expected price changes over the next 12 months also increased slightly.
Stagflation?More By This Author:S&P Futures Recharge For Last Santa Rally Push, Less Than 1% Away From All Time High
China’s Spy Agencies Now Targeting The Country’s Economic Pessimists
‘Biggest Losers’, Bullion, & Black Gold All Bid On Boxing Day
