Posted on 01/16/2024 6:37:47 AM PST by Kaiser8408a
The themesong for Bidenomics is the Imperial March from Star Wars.
The New York Fed’s Empire State Manufacturing Survey for January crashed from -14.5 to -43.7 – the worst print in the survey’s history outside of the COVID lockdowns…
Source: Bloomberg
The -43.7 print was a stunning 10 standard deviations below expectations of a bounce to -5.0…
Source: Bloomberg
Under the hood, it was a bloodbath. New orders slumped more than 38 points to minus 49.4, the weakest since April 2020, while shipments dropped by the most since August. Worse still, the index of prices paid for materials increased to a three-month high.
But hope remains high as the six-month outlook for overall activity improved to a three-month high, suggesting manufacturing will stabilize at a weak level. The measure of the outlook for capital expenditures increased to the highest since April 2023, suggesting a pickup in investment.
However, the spread between current reality and a hopeful future is at near record highs (record Ex-COVID-lockdowns)…
“Bidenomics” for the win…
(Excerpt) Read more at confoundedinterest.net ...
“Biden is the Darth Vader for the US.”
################
For NY, it’s not just Biden, but the whole Democrat Mafia there, run by NYC.
The NYC Mafia there wants to turn Upstate into farmland, prisons, and community colleges, and nothing else.
If you live in NY, my humble advice would be to get out.
The recession comets
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.