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ISM a Leading Indicator of Jobs? Why 2016 Will Shock to the Downside! ISM a Leading Indicator of Jobs
PCE declined by 0.13. That’s a total of decline for those three components of 0.37 percentage points. Part of that decline was based not only on revisions, but also on a month-over month decline in November construction spending of 0.4 percentage points. If 3/4 of the decline in those components is due to construction spending, then I estimate third quarter GDP will be revised about .57 percentage points lower, second quarter .56 percentage points lower, and first quarter .21 percentage points higher
Read this article: Manufacturing ISM Sinks to January 2009 Low; Don’t Count on Services or Housing to Save the Day
Visit link: Yuan Movements Highlight China’s Attempt to Halt 10th Month of Export Contraction; Major Currency War Coming Up?
Bloomberg reports Sweden Seen Closer to Krona Intervention to Tame Exchange Rate . Some of Scandinavia’s biggest banks are warning investors not to underestimate the risk that the central bank is preparing to intervene in the currency market. Nordea and SEB both say the Riksbank won’t allow the krona to strengthen beyond 9 against the euro.
Taken from: Chicago PMI Crashes, New Orders and Backlogs Plunge to May 2009 Level; Service Economy Headed for a Slowdown?
See more here: Misguided Plans to Fix the Fed Part 1: Bernie Sanders
Read the original post: More Abenomics Failures: Retail Sales and Factory Output Contract, Businesses Reject Wage Hike Plea; Fine-Tuning à…
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