PMC Donation Information

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

Personal income and spending, Architecture billings, Congressional Resolution

With consumption as weak as it is, the latest fiscal adjustment probably won’t put much upward pressure on prices: ...Read More

Mtg apps, durable goods orders, vehicle miles

Muddling through: ...Read More

Consumer sentiment, retail sales, industrial production, homebuilder sentiment

Some improvement but remains weak: Looks ok to me: Not looking good: Not looking good: ...Read More

Housing starts and permits, mortgage purchase apps, LA port traffic

A setback to levels of the 1950’s when there were half as many people: Imports up, exports down: ...Read More

Employment, imports, consumer borrowing

Employment increased more than expected last month but still looking anemic overall: Returning to normal, good for the global economy: ...Read More

Jobless claims, ADP payrolls, ISM services, Vehicle sales

Employment growth has stalled: Not looking good: Also fading: ...Read More

Durable goods, pending home sales, personal income and spending, consumer credit

Back to 2018 levels with lots lost during the dip: Still drifting lower: Another round of Federal checks hit last month: The economy is generating less personal income than pre covid and fading: Some of the increased income was saved: Some was spent, but consumption has still not fully recovered: Consumer borrowing ...Read More

New home sales, mortgage purchase applications, bank real estate lending, crude oil prices

Settling in at perhaps somewhat higher levels: Promising! Not showing up here yet: No telling what the Saudis are up to: ...Read More

Consumer sentiment, unemployment claims, housing starts, lumber, retail sales, industrial production

Alarmingly high this long after the crisis and no longer moving lower: Seems ‘on average’ it’s hard to say much has changed: Though this looks promising: Tariffs and Covid related supply issues are commonplace: Nice move up after the move down, but still looking net lower than otherwise for the last 12 ...Read More

Small business index, JOLTS, corn

Back to where it was pre Trump: New hires down, openings up some but that includes openings to replace higher cost workers: Exporting our food supply (in addition to turning it into motor fuel and burning it up) so we can pay more fighting over what’s left: ...Read More