April 2013 Dallas Fed report on manufacturing activity biggest drop and miss on record, plunges to -15.6, expected +5.0

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4/29/13, "Dallas Fed Implodes: Biggest Drop And Miss On Record Send Market To Intraday Highs," Zero Hedge

"If this doesn't send the S&P to new all time highs nothing will. Moments ago the Dallas Fed reported its April General Business Activity report and in short it was the biggest miss to expectations on record, plummeting from 7.4 to -15.6, on expectations of a 5.0 print and the lowest since July 2012. It was also the biggest one month drop on record. Since all of this will be attributed to balmy spring weather in New Zealand, extra rainfall in the Russian Steppes, the US sequester, evil European fauxterity, Cyprus deposit confiscation, and of course, Bush, there is no point in commenting on this disaster at all. And why comment: judging by the market's response which is now at the day's highs, it is not as if anyone even pretends any data matters. The only hope now for those expecting a 20,000 on the DJIA is that the ISM due out soon, will print at 0 and everything will be permanently fixed. In other news the daily prayer to praise St. Bernanke begins at 11 am when POMO ends. Please orient yourself to face the Marriner Eccles building when bowing down."...

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4/29/13, "GIGANTIC MISS: Dallas Fed Manufacturing Index Plunges Into Negative Territory," Business Insider, Matthew Boesler

"The Dallas Fed's monthly survey of regional manufacturing activity is out. The headline index plunged to -15.6. Economists expected +5.0 after last month's +7.4 reading.

The index was dragged lower by the prices paid for raw materials sub-component, which fell to 2.5 from 19.1.

Elsewhere, the biggest weakness was seen in the new orders sub-component, which fell to -4.9 from 8.7, the shipments sub-component, which fell to -0.4 from 10.6, and the production sub-component, which fell to -0.5 from 9.9."...

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