This is a very funny article. 19 hours before the Philly Fed manufacturing index was released, the India Daily published:
Rising Philadelphia Fed data for April signal start of cyclical manufacturing upturn within a large secular deflationary downturn
Apr. 19, 2007
The Philadelphia Fed data is encouraging. The improved April data over March shows the start of manufacturing recovery. The stock market however is overbought and extremely over priced. What is quality of this manufacturing recovery?
I think the guy in India decided that the index will come as improvements over last month reading of 0.2. He was so confident that he wrote the article and went to sleep.
You guess what happened next – the index came as 0.2. No improvement. This guy is funny 🙂