…has effectively disappeared. The queue of ships waiting to unload at the ports of Los Angeles and Long Beach fell from a peak of 109 ships in January to four…

…non-seasonally adjusted data is that it has peaked when the YoY% change is less than 1/2 of its maximum. In the case of the Case Shiller index, which peaked at…

…good start. The price peaked in May 2018 at $2.987 or $3.56 today. It did a dip and peak then declined to $1.841 or $2.13 today by May 2020. Yes,…

…has declined at least 6.5%, and as much as 34%, with a median decline of 20% from peak. We are now 10 months out from the peak in permits, and…

…they’re not the biggest story. For one thing, the backlog of housing units authorized but not yet started declined only slightly to 293,000, only slightly below its March peak: This…

…Indicators, reversed December’s decline and increased +0.3 hours to 40.9, although it remains down -0.7 hours from its February peak last year of 41.6 hours. Manufacturing jobs increased 17,000. Construction…

…below its 42% peak of last June: At +0.5% for the month and 10.1% YoY, food inflation remains a problem, but even that metric has decelerated from peak: New car…

…October peak. Manufacturing production rose a strong 1.0%, but nevertheless is -2.0% below its April peak: Industrial production, if it were taken by itself, would suggest that we are already…

…have improved to -2.4% below their pre-pandemic peak. Within the leisure and hospitality sector, food and drink establishments added 69,900 jobs, and are now only -0.9% below their pre-pandemic peak. …

…title, indicates we are about half the way there. Job openings (blue in the graphs below) declined -384,000 to 9.590 million annualized (from a peak of 12.027 million 12 months…