Sure, this is just a manufacturing survey and the global economy now relies on the endurance of Asian youngsters to support it . . . Still, the big picture is that the stagflation fear might soon be realized as winter approach and the impact of rate hikes take hold.
More deets here for our nerdy readers . . .
The Tenth District manufacturing survey's composite index fell to 1 in September from 3 in August, the lowest reading since July 2020. Economists polled by The Wall Street Journal expected the index to come in at 5.
The indicator gauges manufacturing activity of firms located in the western third of Missouri, all of Kansas, Colorado, Nebraska, Oklahoma and Wyoming, and the northern half of New Mexico. A value greater than zero signals that activity in the region grew over the month.
"Regional factory activity was sluggish overall in September," said Chad Wilkerson, vice president and economist at the Federal Reserve Bank of Kansas City.
Read more via www.TonysKansasCity.com link . . .
By Xavier Fontdegloria Manufacturing activity in the central U.S. region expanded marginally in September, broadly at the same pace as it did in August, according to data from the Federal Reserve Bank of Kansas City released Thursday. The Tenth District manufacturing survey's composite index fell to 1 in September from 3 in August, the lowest reading since July 2020.