Auto sector’s effect on non-recession reading

This daily will have to be quick since I am in transit. The best highlight here is jobless claims and how the auto sector is affecting both production and employment positively, potentially keeping the US from falling into outright recession. I mentioned just over a week that auto inventory restocking was the only thing between US and recession. Retail sales have been negative for three straight months and the manufacturing PMI has fallen into negative territory as well. Particularly alarming with the last manufacturing PMI was the drop in new orders. All of this speaks to recession.

But auto companies are building inventory by getting workers to work through the typical summer re-tooling period and that's throwing off jobless claims:

The reading for jobless claims has ...


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