Daily: Data not really pointing to recession outside of Europe

Most of the links are about Europe as usual but I think the breadth of news today is good. I would like to highlight the conflicting economy stories out there. While Europe remains mired in recession, the rest of the world is still growing. In the US, the data have been weak of late but not out and out recessionary as the ECRI claims. I would be surprised if they were proved right on their recession call, one they first made a year ago. Growth estimates in the US are being cut but no one is really saying recession outside of ECRI, Hussman and Michael Shedlock.

Today's jobless claims confirm that there has been no uptick in layoffs meaning that the second derivative (change in the change) of employment is not moving toward recession.  What I would expect to see at this point ...


As this site is now reader-supported via Patreon, the remainder of this article is only available to subscribers at a specific patronage level. Articles at patronage levels BRONZE, SILVER, and GOLD are denoted by the categories in blue capital letters above the post. Posts categorized DAILY are available to both SILVER and GOLD patrons.

Click here to join. Your readership is greatly appreciated!

Registered users can log in by entering details here or below.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More