…instrumental goods required to supply the increased demand for consumption goods; (v)the momentum of the recovery thus initiated. Now of these (i) was a prior condition of recovery, since it…

…“core” capital goods orders (red) increased 0.1%, and have been generally tending sideways. Another segment which is also an official leading indicator, consumer durable goods orders (gold), have been trending…

…a larger -0.5% decline in real spending on non-durables (blue). In the past, spending on durables has tended to turn down before spending on non-durables. Here’s the current update: On…

…Prof. Edward Leamer’s business cycle model indicates that spending on durable goods (dark blue, left scale) tends to peak first, before nondurable or consumer goods (light blue, right scale). In…

…quoting Clower: “Hang on. In a Walrasian economy there is one big market where all n goods are exchanged; in a barter economy there are (n-1)n/2 markets where 2 goods…

…partly reflect still-weak domestic demand, especially for luxury goods, as also suggested by the sharp decline of Hong Kong retails sales. Although domestic demand may have stopped weakening, it remains…

…from oil and consumer goods. Other trade categories,  like food, industrial materials, capital goods  are each showing relatively small changes that are largely offsetting each other. For the most part…

…in the form of wages goods (or services) or machinery. In this view, labour performed producing luxury goods would be unproductive, even though it appeared to produce surplus value for…

…surplus value in the form of wages goods (or services) or machinery. In this view, labour performed producing luxury goods would be unproductive, even though it appeared to produce surplus…

…composite price index of all goods less food and energy goods was 1.8% higher in May, we can thus figure that the change in real retail sales excluding food and energy…