Philly Fed Spikes On Best 'New Orders' Print In 45 Years
Zero Hedge -

The headline Philly Fed index spiked, jumping from 23.2 to 34.4 - smashing all analyst expectations (beating the median estimate by almost 8 standard deviations)

Prices Paid drifted lower as did the six-months-forward outlook...

But, New Orders exploded from 18.40 to 40.60 - the highest since March 1973...

But as the chart above shows - 8 months later, the US economy was in recession.

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