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Thursday, August 18, 2011

Philly Fed -30 Extremely Ugly

The Philly Fed survey economic activity index printed a -30 for August.  I don't want to say this seals the deal that we're in a recession, but I don't think the Philly Fed survey gets this low without one.  As shown in the table below, -30 means that 45% of respondents replied that business has slowed in the month.

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