Mike Shedlock

Contributor since: 26 Feb 2010

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• Factory Orders, Except Aircraft, Fizzle Once Again

  Published 04 May 2017 | viewed 0 times

  Factory orders for March came in at 0.2%, below the Econoday consensus estimate of 0.4%. Taking into account a 0.2 percentage point upgrade in February, the…

• Auto Sales Puke Again: Year-Over-Year Totals: GM -6%, Ford -7.2%, Toyota -4.4%, Fiat-Chrysler -7.0%

  Published 02 May 2017 | viewed 0 times

  Auto sales are down for the fourth consecutive month. Final numbers are not yet in, but the preliminary year-over-year totals are miserable. Nearly every company…

• Investigating Weather-Related Effects on Construction Spending

  Published 01 May 2017 | viewed 0 times

  Reported construction spending for March (yes we are still looking at first quarter data), was -0.2%. However, the Census Department revised February construction spending from 0.8%…

• Economic Reality: Bottom 50% of Americans No Longer Matter

  Published 01 May 2017 | viewed 0 times

  The Fed likes to brag about the "We saved the world" recovery. However, the unfortunate truth of the matter is a record Half of American Families…

• First-Quarter Real GDP 0.7%; Spending Slowest Since 2009: Nowcast Model Needs Serious Work

  Published 28 April 2017 | viewed 0 times

  First quarter real GDP came in at 0.7% vs an Econoday consensus estimate of 1.1%. Consumer spending was the weakest since the 4th quarter of…

• Trump Considers Executive Order Withdrawing From NAFTA: Majorly Stupid

  Published 26 April 2017 | viewed 0 times

  "It's been very, very bad for our companies and for our workers, and we're going to make some very big changes or we are going…

• 1st Quarter GDP Estimates: ZeroHedge, Mish, GDPNow, Nowcast, ISM, Markit

  Published 25 April 2017 | viewed 0 times

  On Friday, April 28, the BEA will release its preliminary estimate for first quarter GDP. Prior to that release, here is a compilation of six estimates…

• Target2 and Secret Bailouts: Will Germany be Forced Into a Fiscal Union with Rest of Eurozone?

  Published 24 April 2017 | viewed 0 times

  Project Syndicate writer, Hans-Werner Sinn, explains why the ECB's asset purchases and Target2 imbalances constitute "Europe's Secret Bailout". Under the ECB's QE program, which started…

• Can the Electric Grid Handle Self-Driving Electric Trucks?

  Published 23 April 2017 | viewed 0 times

  In response to some of my recent posts on self-driving and electric vehicles, several readers asked if the electric grid could handle the increase. Other readers…

• Existing Home Sales Best Since February 2007: Good as it Gets?

  Published 21 April 2017 | viewed 0 times

  Existing home sales beat expectations with a climb to 5.71 million units, seasonally adjusted annualized (SAAR). Econoday calls this an acceleration, is that what's happening? Highlights The…

• Fantasyland Reality Check: Fed's Beige Book Makes Absurd Claims in at Least 3 Places

  Published 19 April 2017 | viewed 0 times

  The Fed's Beige Book, a summary of economic activity in 12 Fed regions, claims modest wage increases broadened, manufacturing expanded, and light vehicle sales strengthened. Let's investigate…

• Thud: Housing Starts Plunge 6.8% as Sentiment Soars

  Published 18 April 2017 | viewed 0 times

  Unless housing starts data is another one-time affair, and it could be given the volatile nature of housing starts, this recovery is nearly over just as…

• Too Hot to Handle Twist: Econoday 'Thankful' for Empire State Manufacturing Cooling

  Published 17 April 2017 | viewed 0 times

  The Econoday consensus estimate for the Empire State manufacturing index was +15.0 in a range of 13.0 to 17.2. The actual index reading was 5.2,…

• Retail Sales Unexpectedly Decline, Revisions Even Worse

  Published 14 April 2017 | viewed 0 times

  There are several economic reports out today, none of them any good, especially retail sales, the most important of the reports. Weakness was expected in…

• Central Bank Hubris Bubbles to the Surface

  Published 14 April 2017 | viewed 0 times

  Albert Edwards at Society General commented today on Central Bank Hubris, deflation, and the flattening of the US yield curve. Here are some email snips.…

• PPI Services Shows No Price Pressures

  Published 13 April 2017 | viewed 0 times

  Wholesale prices show continued weakness, especially services. The BLS reports PPI for Final Demand Declines 0.1% in March. Services and goods both decreased by 0.1%.…

• Appeals Court Rules Against San Diego Unions: First of Many Court Victories to Come

  Published 12 April 2017 | viewed 0 times

  In 2012, San Diego voters gave Landslide Approval to Proposition B, which eliminated defined-benefit pensions for newly hired city workers except for police. In December…

• 'Secular Low in Bond Yields Remains in the Future' says Hoisington's Lacy Hunt

  Published 12 April 2017 | viewed 0 times

  With the Fed having hiked thrice and calling for three more hikes still, the 2017 Hoisington First Quarter Review contains a call that will have…

• Yellen's Self-Serving Assessment: Fed is 'Doing Pretty Well'

  Published 11 April 2017 | viewed 0 times

  Now that the bubbles have been blown (but still remain invisible to the Fed), Fed Chair Janet Yellen. Yellen conveniently pats herself and the Fed…

• Six GDP Estimates: ZeroHedge, Mish, GDPNow, Nowcast, ISM, Markit

  Published 09 April 2017 | viewed 0 times

  On Wednesday, I asked a handful of bloggers and economic writers their estimate for first quarter GDP. ZeroHedge was the only one willing to publicly…