WTF!
While other "soft" survey data has been disappointing recently, The Richmond Fed Manufacturing Outlook did not... in fact, against expectations of a 14 print, following a 12 print in October, November printed 30! - 16 standard deviations above expectations.
This is an all-time record high for the survey...
Despite a major spike in 6 of the 8 sub-indices (with shipments and new orders and workweek soaring), Wages tumbled? Perhaps the reason is simple - Shipments and New Order Volume expectations for six months ahead tumbled.
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