Wages are up and output per hour is down. Is this the magic mix for what ails the economy?
In the wake of amusing calls by various Fed presidents about impending rate hikes, Curve Watchers Anonymous has received numerous questions about the US treasury bull market.
The Markit U.S. Services PMI final data shows a weaker rise in service sector business activity in May.
According to the Wall Street Journal auto sales in April were down.
March construction spending was revised from from a prior reported 0.3% to 1.5%, but the good news stops there. April construction spending declined a whopping 1.8%, the most since January 2011.
US first quarter GDP was revised up 0.3 percentage points this morning to a seasonally adjusted annualized rate of 0.8 percent. The Bloomberg Econoday consensus was a bit more at 0.9% in a range of 0.5% to 1.1%.
This past week I was interviewed by James Stafford at Oilprice.com.
Whats the real populist risk: Donald Trump and Nigel Farage?
Household debt for the first quarter of 2016 is up $136 billion.
Whether the economy is in recession remains to be seen, but the manufacturing recession continues without a doubt.
Not satisfied with economic distortions resulting from the redefinition of full-time employment to 30 hours for Obamacare purposes but 32 hours for every other purpose, President Obama is back at it.
The Atlanta Fed updated its GDPNow forecast following todays housing and CPI reports.
The Empire State Manufacturing Index crashed to -9.02 after a brief two-month rally.
In direct response to higher wage prices and the firming of commodity prices, Wendys is going to install self-service ordering kiosks at 6,000 locations. McDonalds is expected to follow at a slower pace.
Retail department store sales are in a funk.
Wholesale sales numbers bounced a hefty 0.7% but the internals look pretty weak.
For those still wondering why the global economy is struggling, the simple answer is Its the debt, stupid.
There was a slew of economic reports out today, and despite the fact that on the surface the reports seemed mildly positive for GDP, the GDPNow Model sees things otherwise.
With the exception of emerging market countries in trouble like Brazil and Russia, and complete hyperinflation basket cases like Venezuela, can anyone name a central bank that genuinely wants a stronger currency?
The word of the day is stagnation.