Mkt is toast!! Demand Collapsed , Philly Fed Manufacturing Index to -30.7;
The Philadelphia Fed Business Outlook Survey plunged to -30.7 with all indicators in decline.
The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, decreased from a slightly positive reading of 3.2 in July to -30.7 in August. The index is now at its lowest level since March 2009 (see Chart). The