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  • Philadelphia Fed Manufacturing Index Falls to -10.7 From 5.7

    From bloomberg.com

    Read Full Story at bloomberg.com

    The Federal Reserve Bank of Philadelphia’s general economic index decreased to minus 10.7 in November from 5.7 a month earlier. A reading of zero is the dividing line between expansion and contraction in the area covering eastern Pennsylvania, southern New Jersey and Delaware. Economists forecast the gauge would decline to 2, according to the median projection in a Bloomberg survey. Estimates ranged from minus 10 to 8. Another report showed manufacturing in the New York region contracted for a fourth straight month in November as superstorm Sandy knocked out electrical power and limited activity. The ... (full story)

    • Guest

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    • why gold down after negative Philadelphia Fed data

    • Loadedgun

        2,950 posts
    • Because it was going down before that and had not finished doing so (exhausted its downside range). It is a market not an economics laboratory.

    • Gulfam

      6 posts
    • next forecast for gold. Awaiting your nice comments.

    • cppolybd

      564 posts
    • Quoting Loadedgun
      Because it was going down before that and had not finished doing so (exhausted its downside range). It is a market not an economics laboratory.
      LOL

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