Philly Fed economic index plummets

And existing-home sales keep falling.

Two economic indicators hammered the markets today, causing new worries of a second recession.  The biggest bombshell came from the Philadelphia Fed’s economic index, which dropped from an anemic +2 in July all the way to -30.7 in August: Manufacturing in the Philadelphia region unexpectedly contracted in August by the most in more than two [...]

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Ed Morrissey 19 Aug, 2011

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Source: http://hotair.com/archives/2011/08/18/philly-fed-economic-index-plummets/
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