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Home / Tag Archives: Economic Releases (page 7)

Tag Archives: Economic Releases

Pending home sales, Construction spending, ISM manufacturing, Saudi OSP

Same pattern: Also same pattern of covid dip, recovery, then weakness most recently: US Factory Growth Slows in July The ISM Manufacturing PMI fell to 59.5 in July of 2021, the weakest in 6 months, compared to 60.6 in June and below forecasts of 60.9. New orders, production, and supplier deliveries increased less and inventories contracted. Meanwhile, employment rebounded and price pressures eased. Looks like price hike mode?

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Oil alert

Saudis have set in process a continuous increase in the price of oil.This is exactly what happened in 2008.The Fed’s reaction was to hike rates which only made the inflationary impact worseall triggering the financial panic and crash, with no fiscal relief from a panicked Congressrelying on the Fed until March 09. Only a change in Saudi pricing reverses this: SINGAPORE – Top oil exporter Saudi Arabia has raised the August official selling prices (OSPs) of all crude grades it...

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Personal income, Mortgage apps, ADP private employment, Chicago PMI

Transfers coming down is slowing GDP growth: Housing continues to slow/ the post covid bounce is fading: Making a comeback but still a long way to go. This is a major driver of personal income. It also shows a lot of people are taking jobs, contrary to headlines of worker shortages: This is only through April, but note that new hires are up to about 6 million jobs per month: Another indicator the pace of the post covid recovery is fading:

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