CHART OF THE DAY: The Philly Fed Collapse

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The big economic datapoint of the day was the collapse of the Philly Fed Index.

The Philly Fed Index is a closely-watched measure of the regional manufacturing economy.

The survey looks at all kinds of items (employment, new orders, cost of goods, etc.) but the general headline number — which came in at -16.6 basically tells the story.

As you can see based on the greyish line, it’s collapsed, and is near its lowest levels since the recession ended.

chart of the day, the philly fed collapse, june 2012

Photo: Philly Fed

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