Philly Fed Survey: What the Data Shows and Your Portfolio 

A Distilled Perspective Commentary from Patrick T Bulger Analytics

Let’s dive into the quick of it.  Here we go:

Are we seeing the "tariff pull forward" effect?
A "wave in" of orders.
Followed by a "wave out"?
The latest data suggests so.

Examples:
Today’s Philly Fed Manufacturing Business Outlook Survey
•    New Orders Negative
•    Employment Weak
•    Delivery Times Negative
•    Prices Paid Up
•    Prices Received Weak

🎯Key Takeaways for your portfolio:
Our Interpretation is Weak to negative, Tariff pull forward wave out.
Peak in 2021, lower peak in 2024.  We do not see this ending until the data convincingly has a sustained reversal. 
Summary, erosion of underlying macro condition continues.

Key Conviction:
These views are supported by other reinforcing data as Job Weakness, Consumer Sentiment, Finance, Refinance, Debt and more.

I manage capital for busy, emotionally matured, decision makers.
Targeting: 
•    Maximum efficiency, 
•    Saving you time, and 
•    Providing the complexity you’d expect in top capital advisory 
For your seriously invested capital.

For personalized insights on navigating current risk conditions, reach me by 
Click the “Ask” Button in the menu or top of page.

...