BREAKING: The NY Empire State Manufacturing Index fell to -8.1 points in April, recording the 3rd negative reading this year.
More importantly, 6-month outlook for general business conditions plummeted to -7.4, the lowest in 24 years.
Additionally, the 6-month outlook for new orders fell to -6.6, the lowest in history.
Not even the 2008 Financial Crisis saw such a grim outlook.
All while prices paid outlook spiked to 65.6, the highest since mid-2022.
Stagflation is here.
BREAKING: The NY Empire State Manufacturing Index fell to -8.1 points in April, recording the 3rd negative reading this year.
More importantly, 6-month outlook for general business conditions plummeted to -7.4, the lowest in 24 years.
Additionally, the 6-month outlook for new… pic.twitter.com/zpUFKoWjaN
— The Kobeissi Letter (@KobeissiLetter) April 24, 2025
BREAKING: The US Consumer Sentiment Index fell 6.2 points to 50.8 in April, the second-lowest on record.
This was only above the 50.0 points recorded in June 2022 when inflation was at 9.1%, the highest since 1981.
This also marks the 4th-consecutive monthly decline for a total… pic.twitter.com/PDSTFP3at2
— The Kobeissi Letter (@KobeissiLetter) April 24, 2025
Consumer sentiment is plunging: 60% now view U.S. economic policy negatively, 60% expect conditions to worsen, and just 25% believe their income will outpace inflation—marking the worst outlook in decades, per University of Michigan data and FT analysis. pic.twitter.com/XC8drm6bP9
— The Intellectualist (@highbrow_nobrow) April 22, 2025