JPMORGAN: the slowdown in global employment “raises a material downside risk to the outlook. Households will feel the impact from slower hiring and adjust their spending. … we see global retail sales expanding just 2%ar this quarter.” pic.twitter.com/ojrjAT7rQ3
— Carl Quintanilla (@carlquintanilla) November 21, 2019
GDP Nowcast looks just awful.
Worse than Q4 2015.
To recall:
Every prior time >70% of the yield curve inverted a recession followed.
Almost certainly not different this time. pic.twitter.com/LaIgmYypAZ
— Otavio (Tavi) Costa (@TaviCosta) November 20, 2019
https://twitter.com/hks55/status/1197320225059786752
All good, move along…
Construction spending now contracting like it did prior to all recessions of the last 50 years.
Dismal private spending is the root cause. pic.twitter.com/Zz2f1ipIKx
— Otavio (Tavi) Costa (@TaviCosta) November 19, 2019
Rail Recession: U.S. Carloads Continue Collapse As Manufacturing Slows
Nowhere is the slowdown in the U.S. economy more obvious than in places like Class 8 Heavy Duty Truck orders and rail traffic. We already wrote about how Class 8 orders continued to fall in Octoberand new data the American Association of Railroads (AAR) now shows that last week’s rail traffic and intermodal container usage both plunged.
