Economic data released this morning showed Durable Goods orders falling back-to-back, for the first month since April, 2020, as the policies of the disastrous Biden* Administration take effect.
GDP also missed consensus expectations.
The American economy is being deliberately driven into the ground by the occupants of the U.S. Executive Branch with massive, absurd spending, a planned supply-chain crisis, and manufactured inflation.
Financial markets are down slightly but still at stratospheric levels, beyond any fundamental valuation, just riding on the massive quantitative easing, or as they say in Bolivia – printing lots of money.
MBA Mortgage Applications (Nov 19) printed at 1.9%.
Durable Goods Orders ex-Transportation (Oct) printed at 0.5%.
Core Personal Consumption Expenditures (QoQ) (Q3) PREL printed at 4.5%.
Wholesale Inventories (Oct) printed at 2.2% vs 1% estimate.
Durable Goods Orders ex Defense (Oct) printed at 0.8%.
Continuing Jobless Claims (Nov 12) printed at 2.049M vs 2.033M estimate.
Gross Domestic Product Price Index (Q3) PREL printed at 5.9% vs 5.7% estimate.
Goods Trade Balance (Oct) PREL printed at -$82.9B.
Personal Consumption Expenditures Prices (QoQ) (Q3) PREL printed at 5.3%.
Durable Goods Orders (Oct) printed at -0.5% vs 0.2% estimate.
Initial Jobless Claims (Nov 19) printed at 199k vs 260k estimate.
Non-defense Capital Goods Orders ex Aircraft (Oct) printed at 0.6% vs 0.5% estimate.
Initial Jobless Claims 4-week average (Nov 19) printed at 252.25k.
Gross Domestic Product Annualized (Q3) printed at 2.1% vs 2.2% estimate.
Redbook Index (YoY) (Nov 19) printed at 15.4%.
Markit Manufacturing PMI (Nov) PREL printed at 59.1 vs 59 consensus estimate.
Markit Services PMI (Nov) PREL printed at 57 vs 59.1 estimate.
Markit PMI Composite (Nov) PREL printed at 56.5 vs 57.4 estimate.
Richmond Fed Manufacturing Index (Nov) printed at 11 vs 5 estimate.
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