bad news… | July 27, 2012
Weimar solution beckons as manufacturing crashes in US Fifth District?
By Ambrose Evans-Pritchard Economics Last updated: July 25th, 2012
The Richmond Fed’s twin indices of manufacturing and services – a very good indicator at the onset of the Great Recession – collapsed this month.
They are now falling at a steeper pace than in early 2008. Current activity in manufacturing fell 16 points from -1 to -17. That is a major shock.