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Empire Fed Miraculously Surges By The Most Since 2010 Despite Continued Job Contraction

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Sure why not. Against expectations of a -10.5 print, Empire Fed Manufacturing spiked from -16.64 (7 year lows) to 0.62 (8-month highs). This is the biggest MoM rise since Dec 2010 as New Orders and Shipments miraculously surged to 18 month highs (hhmm?). Hope jumped to 3 month highs but what is odd about this unequivocally good print is that number of employees dropped once again (its 7th month of contraction) as did Prices Received.

 

 

 

From worst to first... Do you believe in miracles?

 

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Must be the Trump effect?

 

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