Philly Fed manufacturing survey data:
- Prior was +36.7
- Worst reading since 2012
- New orders -15.5 vs +33.6
- Employment +4.1 vs +9.8
- Prices paid +4.8 vs +16.4
- Prices-received +6.8 vs +17.1
That's an enormous drop and it's indeed the largest one-month drop on record.
