Hard hitting global and local news
On April 29 in Real Q1 GDP 0.2% vs. Consensus 1.0%; Disaster in the Details I commented "The second estimate of Q1 GDP comes out on May 29. Any number of changes could send Q1 negative." Here we are already
The Local asks Robots About to Take Away 18 Million Jobs? The results of the [ING-Diba] study paint an almost doomsday-esque scenario for Germany.
Read the original post: Factory Orders Positive First Time in 8 Months, Remain Weak
Their report, " Garland Shooting Suspect Elton Simpson’s Father: ‘My Son Made a Bad Choice’ ," states: Followers of ISIS had been sending messages about the event in Texas for more than a week, calling for attacks. One referenced January’s Charlie Hebdo massacre in France and said it was time for "brothers" in the United States to do their part. Simpson was well known to the FBI.
Continue reading here: China Manufacturing PMI in Contraction: New Orders and Operating Conditions Decline at Strongest Rate in a Year
View post: Venezuela to Nationalize All Food Distribution, Increase Public Wages 30%
Now that we have the backdrop out of the way, please consider Twinkie’s Miracle Comeback: The Untold, Inside Story of a $2 Billion Feast Walk in the door of Hostess Brands’ flagship bakery in Emporia, Kansas and your first thought is: What a dump.
Read the article: ISM Disappoints, Led by Decline in Employment
Construction Spending "Once Again Defies Expectations" Much Weaker Than Expected; Four Reasons Economists Perplexed Economists have been overly optimistic on the majority of economic reports for going on six months. Today the Bloomberg Consensus estimate for construction spending was for a 0.4% gain. The actual result was a decline of 0.6%