Richmond Fed Manufacturing Index Breaks Its Winning Streak
After 7 months of winners, the Richmond Fed manufacturing index finally pulled back. Take that to mean whatever you like.
The year seemed promising, with the first sign of hope bursting through March 24th's release (if you call "deteriorated less" a sign of hope). April 28 contraction settled and by May 26th, major signs pointed to the first pick up in activity in 12 months.
But not this month. Sorry kids, this is not the economic recovery you are looking for.
Technically, the index started turning sour again by October 27th but shhh, some people like to linger in dreamland just a little bit longer. Press snooze, it's going to be a long 2010...