Many signs we're in recession w/economy continuing to decelerate.Composite PMIs at 45,housing rolling over fast,retail is weak,labor conditions are deteriorating.Overseas is even worse.And inflation is rolling over & likely will surprise on the downside.Fed will pause this fall.
— David Hunter (@DaveHcontrarian) August 24, 2022
Inflation is the reason why we are in a recession.
A FED pivot would make inflation worse and lead us into a more severe recession.
Inflation is not going <3-4% before S&P 500 below 2000.
— HOZ (@MFHoz) August 23, 2022
Every time monthly supply of new houses has exceeded 9 months a recession has ensued.
Currently at 10.8 months. pic.twitter.com/aUfctnDGgE— Sven Henrich (@NorthmanTrader) August 24, 2022
The months' supply of new homes EXPLODED in July.
The new home market now has 10.9 months of supply!
Price cuts are going to come fast and hard in the new home space.
⏲️💣 pic.twitter.com/Q4G41p1Okr
— Eric Basmajian (@EPBResearch) August 23, 2022
Home prices fell for the first time in 3 years last month – and it was the biggest decline since 2011 t.co/rps7VhQORm
— CNBC (@CNBC) August 24, 2022
Monthly eviction filings relative to average in Dallas and Ft Worth…
Please move along… nothing to see here…
Not a recession. pic.twitter.com/1sXhntG8pk— Wall Street Silver (@WallStreetSilv) August 23, 2022
Recession Evidence Piles Up with S&P PMI Services Leading the Way
US private sector firms signaled a sharper fall in business activity during August, according to latest ‘flash’ PMI™ data from S&P Global. The decrease in output was the fastest seen since May 2020 and solid overall. The rate of contraction also outpaced anything recorded outside of the initial pandemic outbreak since the series began nearly 13- years ago.