An across the board downturn for housing permits and starts in May Housing permits and starts declined across the board in May. In the past year there has been a unique divergence between permits and starts due to construction supply shortages. This has been reflected in the number of housing units authorized but not started […]
Consumer prices rise 1% in May alone; owners’ equivalent rent at 30 year high; expect the Fed to keep stomping on the brakes Today is a travel day for me, so I’ll keep this relatively brief. People who were hoping inflation would abate did not get the news they wanted from the May CPI. Consumer […]
– by New Deal democrat Weekly Indicators for May 16 – 20 at Seeking Alpha My Weekly Indicators post is up at Seeking Alpha. The yield curve tightened some more this week (but did not invert). Meanwhile, I am seeing a fair amount of commentary suggesting that a recession is imminent. This is jumping the gun, and […]
Weekly Indicators for May 9 – 13 at Seeking Alpha – by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. One measure of how the Russia-Ukraine war has been “normalized” globally, is that industrial commodity prices have declined sharply – on the order of 25% – in the past two weeks, taking back […]
Coronavirus dashboard: Omicron has peaked; now what?, New Deal Democrat – by New Deal democratLet’s start out with the good, or at least less catastrophic news: it’s almost certain that the Omicron wave has peaked in the US. In fact, the only Census region it is still up week over week is in the Midwest: […]
Weekly Indicators for January 10 – 14 at Seeking Alpha – by New Deal democrat My Weekly Indicators post is up at Seeking Alpha. In addition to Omicron, commodity prices and interest rates are having an impact across the board on the long and short term forecasts and the nowcast. (Just for spite, two weeks ago some […]
December real retail sales tank; industrial production also declines; consumer slowdown seems nearly certain – by New Deal democrat Two days ago, in connection with consumer inflation, I reiterated that: “we certainly are at a point where a sharp deceleration beginning with the consumer sector of the economy is more likely than not.” I […]
Continuing unemployment claims make new 45+ year low – by New Deal democrat New claims increased 23,000 last week to 230,000. The 4 week average of new claims increased 6,250 to 210,750: The big increase is likely affected by seasonality. It’ll be another week or two before we can tell if there is any real change […]
A brief introduction, not to New Deal democrat, but to the subject matter. An extremely contagious new Covid virus is emerging globally and in the US. Those who have resisted inoculations and other preventative measures may find themselves particularly vulnerable. Reviewing the graphs presented, this virus will rapidly infect the US. This Covid Virus will […]
June data starts out mixed: manufacturing strong, housing stalls, New Deal democrat June data started out this morning with the ISM manufacturing report. There was no big change from last month’s torrid pace. The overall index declined a very slight -0.6% to 60.6, while the leading new orders component declined by 1 to 66:Any number […]