“Another diffusion contraction confirms the stagflation thesis is playing out just as expected. “Led by declines in production-related indicators, the Chicago Fed National Activity Index fell to –0.45 in April from +0.32 in March. April marked the lowest reading of the index since August 2010. Three of the four broad categories of indicators that make up the index deteriorated from March, but two of those three categories made positive contributions to the index in April.” And more truthiness courtesy of a tumbling Japanese economy and European contraction: “The index’s three-month moving average, CFNAI-MA3, declined to –0.12 in April from +0.08 in March, turning negative for the first time since December 2010. April’s CFNAI-MA3 suggests that growth in national economic activity was somewhat below its historical trend.”
If you enjoy the content at iBankCoin, please follow us on TwitterRelated Articles
Don’t Do The Crime Unless You Can Pay the Fine
August 7, 2014
State of the Union: Hopes are Dashed
August 6, 2014
1 in 3 Americans are in Financial Ruin
July 29, 2014