The narrative on CNBC today will be manufacturing is only 11% of GDP. Then they won’t tell you consumer spending on services, which is 45% of GDP, has seen its growth rate fall to a 5 and a half year low

https://twitter.com/GreekFire23/status/1179035532577263617

https://twitter.com/NorthmanTrader/status/1179045737373544449

DEUTSCHE: “For the past year, we have seen a steady decline in US consumers’ interest in buying large household goods, i.e. washers, dryers, computers, TVs, furniture etc. This sentiment indicator has historically been a very good leading indicator of the business cycle” (Slok) pic.twitter.com/NSsk7xu7hp

— Carl Quintanilla (@carlquintanilla) October 1, 2019