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ISM servces, GDP, ISM NY, Oil prices

Summary:
Private payrolls fell by over 2 million after the PPP was in place to keep workers on the payroll. This is a forecast for Friday’s employment release: After a large contraction the rate of contraction naturally slows down, but it’s still contracting: If this turns out to be the case, it’s a drop of some trillion of sales/income which is a larger drop than the increase in federal deficit spending: Below 50 is contraction: This increase will show up as an increase in headline consumer prices, and will also be an increased expense for consumers vs the prior two months:

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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

Private payrolls fell by over 2 million after the PPP was in place to keep workers on the payroll. This is a forecast for Friday’s employment release:

ISM servces, GDP, ISM NY, Oil prices

ISM servces, GDP, ISM NY, Oil prices

After a large contraction the rate of contraction naturally slows down, but it’s still contracting:

ISM servces, GDP, ISM NY, Oil prices

If this turns out to be the case, it’s a drop of some $3 trillion of sales/income which is a larger drop than the increase in federal deficit spending:

ISM servces, GDP, ISM NY, Oil prices

ISM servces, GDP, ISM NY, Oil prices

Below 50 is contraction:

ISM servces, GDP, ISM NY, Oil prices

This increase will show up as an increase in headline consumer prices, and will also be an increased expense for consumers vs the prior two months:

ISM servces, GDP, ISM NY, Oil prices

WARREN MOSLER
Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

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