A combination of negative trends in the US housing market, unemployment claims, financial struggles for Americans, and a decline in South Korean exports.
US home prices have had their biggest annualized drop in over 11 years, per BI.
— unusual_whales (@unusual_whales) May 22, 2023
Even Discount Retail CEOs Say Shoppers Are Pulling Back
Survey of economists: Inflation will stay high this year, and so will Fed’s key interest rate
CONTINUING CLAIMS
RECESSION pic.twitter.com/Kb3yEpHoiz— Win Smart, CFA (@WinfieldSmart) May 22, 2023
More Americans struggle to meet expenses now than in the immediate aftermath of the Covid-19 pandemic, when millions lost their means of employment, a Census Bureau survey showed.
— unusual_whales (@unusual_whales) May 22, 2023
*South Korean exports in the first 20 days of May fell 16.1% YoY (vs the 14.2% decline in exports for the whole of April)
South Korean exports are negative for the 9th month straight w/ little sign of increasing amid anemic global growth (esp China) pic.twitter.com/f8ILccEoM4
— Adem Tumerkan (@RadicalAdem) May 22, 2023