“My Order Book Is Abysmal” – Dallas Fed Contracts For 21st Straight Month

For the 21st month in a row, Dallas Fed’s manufacturing outlook remains stuck in contraction (-3.7 vs -2.5 exp). This is the longest streak outside of recession in the survey’s history as new orders cratered (one respondent noting “my order book is abysmal”) and inventories tumbling (not good for GDP).
Probably nothing…
The respondents had some very clear insight into the state of the ‘recovery’:
The labor pool we draw from is the same as construction home building. Since that segment is going strong, we have had to hand out more money to our senior employees in order to keep them.

This post was published at Zero Hedge on Sep 26, 2016.