This mornings economic data reveals a very disturbing trend of an economy that is continuing to deteriorate.
Jobless claims:
INITIAL JOBLESS CLAIMS: 500K V 478K Expected (highest reading since Nov 2009); CONTINUING CLAIMS: 4.478M V 4.50ME- Prior initial claims revised higher from 484K to 488K
- Prior continuing claims revised higher from 4.452M to 4.491M- 4-week average for claims at 483K v 474K prior (highest since Dec 5th 2009)
AUGUST PHILADELPHIA FED: -7.7 V 7.0E; First negative reading since July 2009- Prices Paid: 11.8 v 13.1 prior
- New Orders: -7.1 v -4.3 prior
- Employment: -2.7 v 4.0 prior
- Inventories: -11.6 v 4.5 prior




