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DISASTER: PHILLY FED REPORT COLLAPSES TO -16.6; MOODY's Downgrades 17 Global Banks; MARKETS TANK!!! Assume CARSH Positions!!!
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[quote:Doom Lover:MV8xOTA0NjQ1XzMxODM5ODUyXzc4NUZCMjYz] [b]INITIAL JOBLESS CLAIMS MISS ESTIMATES AT 387K[/b] http://www.businessinsider.com/initial-claims-june-21-2012-6 [/quote]
Original Message
The number is out and it's very bad.
Manufacturing firms responding to the Business Outlook Survey indicated weaker business conditions this month. The survey’s diffusion index of current activity fell to -16.6 from a reading of -5.8 in May, its second consecutive negative reading. The survey’s indicators of future activity remained positive and improved slightly.
Indicators for new orders, shipments, and average work hours were also negative this month, suggesting overall declines in business. Indexes for current unfilled orders and delivery times both registered negative readings again this month, suggesting lower levels of unfilled orders and faster deliveries.
[
link to www.businessinsider.com
]
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