- by New Deal democratThere has been a ton of significant economic news this morning. I’m not going to be able to get to all or even most of it in depth. So I am going to leave a quick rundown here. Starting with the positive: -nominal retail sales up +0.6%, up +0.3% in real terms, up +0.2% Per Capita. This is another new high and suggests the US consumer continues to be in good shape (relatively speaking). Note that much of this apparently has to do with Amazon “Prime Day” purchases, and if the seasonal adjustments are off, this could easily be a false positive. -Both the NY and Philly Fed indexes higher, including new orders for both. No indication here that manufacturing is rolling over. -The manufacturing component of industrial production higher, again suggesting that
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- by New Deal democrat
There has been a ton of significant economic news this morning. I’m not going to be able to get to all or even most of it in depth. So I am going to leave a quick rundown here.
- overall industrial production was negative - again! Industrial production as a whole has remained in a decline off its high in December of last year. This is the premier coincident economic indicator, even more than payrolls.
I’ll try to post one or two things in detail later.