The last time The Dallas Fed's business survey collapsed at this pace, the US economy was in the heart of its last recessionary contraction...
Against expectations of a modest drop from 17.6 last month to 15.0 in December, the Dallas Fed Manufacturing survey collapsed to a stunning -5.1 - dramatically below the lowest analyst estimate of +13.0.
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Current new orders increased as did wages and benefits but the headline index was crushed by a plunge in hope - as future expectations crashed from 38.0 to 35.6 to 25.7 to 3.2!! in the last few months...
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Erasing all the post-Trump bump.
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