New York, Philadelphia business indexes show solid gains despite recession fears

[m.knox]

D'oh........ The left was getting all gitty about the thought of a recession.....

Jobs! Jobs! Jobs! How come a TV reality show star knew this and a community organizer didn't?

https://www.cnbc.com/2019/08/15/new-york-philadelphia-business-indexes-show-strong-gains.html

• Business activity gauges for the New York and Philadelphia regions are well above expectations.
• New orders in both areas expanded, though employment indicators weakened some.
• There were few signs of inflation, despite fears that tariffs would drive up costs for producers and consumers.

Key business activity indexes for New York and Philadelphia pointed to continued expansion in August amid worries that the U.S.-China trade war was dampening growth prospects, according to two reports released Thursday.

The Empire State Manufacturing Survey had been expected to show a reading of 0.5 while the Philadelphia Fed Business Outlook Survey was projected at 8, according to economists surveyed by Dow Jones.

Both readings were well above those expectations, with the New York gauge posting a 4.8 reading and Philadelphia 16.8.