Financial Journalist's April Fool's Joke
Secondly, and even more importantly, if you look at the details, they show a stagflationary and not expansionary tendencies in the U.S. economy. The key new orders and production sub-indexes both fell significantly and both indicate contraction. One thing that however rose significantly, and indicates very rapid increases was the prices paid subindex. It rose from 75.5 to 83.5, which is the highest since October 2005. This again confirms rising inflationary tendencies in the U.S. economy even as real output contracts.