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I am now also emailing my posts directly to my PMC donors at the same time they are emailed for posting on this website. If you wish to be on the list, please make a donation here. ...Read More

Euro area industrial production, China, Japan, Powell

Below 0 is contraction: How about this????? Powell: U.S. debt is ‘on unsustainable path,’ crimping ability to respond to recession ...Read More

Bank lending, UK, China, India

The private sector tends to be pro cyclical- tightening as the economy slows, thereby making it worse: ...Read More

Rails, Wholesale sales, Earnings

Contraction continues, not to be reversed any time soon by any kind of ‘trade deal’ with China: ...Read More

States contracting, Job openings

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Employment, Vehicle sales, Factory orders, Headlines, US and Japan services, US and Euro area trade, Credit standards

Job openings now in full retreat: The contraction continues: Highlights Unit vehicle sales, at a much lower-than-expected annual rate of 16.5 million, proved very soft in October and will lower expectations for next week’s retail sales report. October’s pace is the slowest since April reflecting sharp slowing in light truck sales. Vehicle ...Read More

Factory orders, ISM NY, Euro area

Contraction: Highlights September factory orders fell 0.6 percent with durable goods orders falling 1.2 percent (revised from an initial 1.1 percent decline in last week’s advance data) and nondurable goods (the new data in today’s report) up 0.1 percent. Total unfilled orders have been flat this year and were unchanged in September ...Read More

Employment, Construction, ISM manufacturing, Chicago Fed

The slow motion train wreck continues unabated and when employment goes bad, it all goes bad: Highlights On the low side of expectations but not at increasing rates of contraction are the results of ISM’s manufacturing report for October. At 48.3, the index missed Econoday’s consensus by 1 point but gained a ...Read More

Employment, GDP, Personal Consumption, Chem activity, Euro area

With today’s numbers private sector employment continues its rapid deceleration brought on by the collapse in global trade from the tariffs: GDP is also decelerating for the same reasons: Contraction: The collapse continues: ...Read More

Home prices, Oil capex, ISM and Fed surveys

Not a good sign: Oil capex decline: Oil Rig Count Plunges To Lowest Level Since 2017 A Death Sentence For Small Oil & Gas Drillers Below 50 is contraction: ...Read More

Rails, Trade, Chicago Fed, Dallas Fed

Deep contraction: Highlights The good news is that the trade deficit in goods narrowed sharply in September to a much lower-than-expected $70.4 billion, but the bad news is both exports and imports, in an indication of economic slowing, fell sharply. Exports dropped 1.6 percent in the month for year-on-year contraction of 3.0 ...Read More