Saturday, September 20, 2014

Philly Fed & Empire State

These are two of the earliest available indicators of the state of the US economy for the previous month, i.e., August at this point.  They're full of random fluctuations, so it's best to look at a 3 month moving average of their average (each one's random fluctuations offsets the other's), which is what's shown in the chart below.

The US economy continues to strengthen.


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