Yesterday's November CPI report indicates that underlying inflation is making steady, if unspectacular, progress towards 2%, but...

In the latest quarter, real consumption in the United States grew at a robust 3.7% annual rate. Goods consumption surged at an impressive...

The Q3 slowdown in payroll growth (smaller than previously advertised) is a productivity story, not a recession story. See charts below:

The downturn in PMI manufacturing new orders continues: after this week's flash PMIs we estimate the weighted G5 average will be down...