5 Scary Charts From That Disastrous Philly Fed Survey

Philadelphia flyers

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The Philadelphia Fed index fell to a catastrophic -30.7 in August, from 3.2 in July, its lowest level since March 2009.Combine this with Monday’s empire manufacturing survey for New York, which fell to -7.72, and the numbers reinforce concerns about the faltering U.S. economy.

We peeled through the report and found more ugly details…

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title=”The general business activity index tanked”
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title=”Companies are seeing sales drop with new orders falling to -26.8″
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title=”Shipments also fell to -13.9, down from 4.3 previously”
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title=”Employment has gone from flat to negative territory, ending the momentum in hiring”
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title=”Unsurprisingly then there has been negative growth in the average work week”
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title=”But do you know what signals a recession?”
content=”Don’t Miss: Recession Watch – The 5 Big Signals To Look For >
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