by Note the yellow line, job openings, which peaked with the tariffs and then full further with covid: The non manufacturing index peaked with the implementation of the tariffs, well before covid hit. And employment growth is still negative: Same with rails- turned down with the tariffs well before covid, and then went lower: “The European Commission lowered its GDP forecasts for 2020 and 2021, saying that the lifting of COVID-19 lockdown measures in some countries was proceeding less swiftly than it had initially predicted. The EU executive said the bloc would shrink by a record 8.7 percent this year, before rebounding by 6.1 percent in 2021, compared with early May estimates of a 7.7 percent contraction in 2020 and a 6.3 percent recovery next year.”
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WARREN MOSLER considers the following as important: Economic Releases
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WARREN MOSLER writes Consumer sentiment, real retail sales, industrial production, wages
WARREN MOSLER writes New manufacturers orders, vehicle sales, unemployment claims, rents, oil prices
WARREN MOSLER writes Saudi price hike, private payrolls, new hires, corporate profits
WARREN MOSLER writes Pending home sales, Durable goods orders, oil rigs and production
Note the yellow line, job openings, which peaked with the tariffs and then full further with covid:
The non manufacturing index peaked with the implementation of the tariffs, well before covid hit. And employment growth is still negative:
Same with rails- turned down with the tariffs well before covid, and then went lower:
“The European Commission lowered its GDP forecasts for 2020 and 2021, saying that the lifting of COVID-19 lockdown measures in some countries was proceeding less swiftly than it had initially predicted. The EU executive said the bloc would shrink by a record 8.7 percent this year, before rebounding by 6.1 percent in 2021, compared with early May estimates of a 7.7 percent contraction in 2020 and a 6.3 percent recovery next year.”