{"id":1478930,"date":"2024-07-23T18:45:00","date_gmt":"2024-07-23T22:45:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1478930"},"modified":"2024-07-23T18:45:00","modified_gmt":"2024-07-23T22:45:00","slug":"worst-since-covid-lockdowns-regional-fed-surveys-plunged-in-july","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/worst-since-covid-lockdowns-regional-fed-surveys-plunged-in-july\/1478930\/","title":{"rendered":"‘Worst Since COVID Lockdowns’ – Regional Fed Surveys Plunged In July"},"content":{"rendered":"

‘Worst Since COVID Lockdowns’ – Regional Fed Surveys Plunged In July<\/span><\/p>\n

\n

It was ugly in macro-land today with existing home sales crashing (as home prices hit record highs)<\/a>. But a couple of Regional Fed surveys really laid an egg…<\/p>\n

First out of the gate was the Philly Fed Services Activity Survey<\/a>, which puked in July from two-year highs to near four-year lows…<\/strong><\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

The indexes for general activity at the firm level, new orders, and sales\/revenues turned negative.<\/strong> The full-time employment index suggested a decline in employment, and prices are rising once again…<\/p>\n

New orders fell to -7.1 vs 6.7<\/p>\n

Sales fell to -3.5 vs 14.3<\/p>\n

Prices paid rose to 30.2 vs 24.4<\/strong><\/p>\n

Full-time employment fell to -4.9 vs 14.6<\/p>\n

Part-time employment fell to 4.0 vs 13.1<\/p>\n

Of particular note was that the capital expenditures-equipment fell to 10.8 vs 24.5… <\/strong>not a great sign for the future of AI investment that is still supporting stocks.<\/p>\n

And it’s not just Services, The Richmond Fed Manufacturing Survey crashed to -17 (the worst since the peak of the COVID lockdowns)<\/strong>…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

And under the hood, it was even more of a shitshow…<\/p>\n

Shipments fell to -21<\/p>\n

New order volume slowed to -23<\/strong><\/p>\n

Order backlogs rose to -20<\/p>\n

Capacity utilization slowed to -13<\/strong><\/p>\n

Inventory levels of finished goods increased to 20<\/p>\n

Overall, it’s bad news as Bidenomics shits the bed…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

We just cannot wait to hear what Harris has up her sleeve to ‘fix’ this…<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nTue, 07\/23\/2024 – 14:45<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/economics\/worst-covid-lockdowns-regional-fed-surveys-plunged-july<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

‘Worst Since COVID Lockdowns’ – Regional Fed Surveys Plunged In July It was ugly in macro-land today with existing home sales crashing (as home prices…<\/p>\n","protected":false},"author":0,"featured_media":1478931,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1478930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1478930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1478930"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1478930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1478931"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1478930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1478930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1478930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}