Economic conditions in more U.S. states are cooling. The Federal Reserve Bank of Philadelphia’s one-month diffusion index for all 50 states slid 20 points in July to 36, the weakest since December 2009. The gauge combines employment, hours of production workers, the jobless rate and inflation-adjusted wages. Indexes rose in 33 states and declined in 15 last month. While deterioration in the gauge has often preceded past recessions, there have also been several false positives.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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