Macro Markets Show Weakness, Putting Pressure on the US Economy to Slow Down🤔
More of the same in macro markets yesterday, with prices holding up despite more data points suggesting a more pronounced slowdown in the US economy in the near future. US initial claims rebounded 13k to 231k last week, the highest levels since August. Similarly, continuing claims also rose for the 8th straight week, to the highest levels since Nov 2021 as signs of a labour market cooldown continues.Other data points were similarly weak with US industrial production falling by -0.6% in October, the weakest print in almost a year, with drops in capacity utilization, manufacturing production, as well as vehicle sales. The NAHB housing index also fell -6 points to 34 in November, marking a 4th straight decline, and also the lowest print since last November.
#MacroMarkets #USEconomy #InitialClaims #IndustrialProduction #HousingMarket

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🛑U.S. Economic Data Highlights This Week:🛑

NY Fed Manufacturing Index (Mon.): Key insights into manufacturing activity in the New York region.

Retail Sales (Tues.): Crucial data on consumer spending trends and economic health.

Building Permits (Wed.): Indicators of future construction activity and housing market strength.

Housing Starts (Wed.): Data on new residential construction projects, reflecting economic momentum.

Industrial Production (Wed.): Measures output from factories, mines, and utilities, showing industrial sector performance.

Jobless Claims (Thurs.): Weekly updates on the labor market and unemployment trends.

Philly Fed Manufacturing Index (Thurs.): Regional manufacturing activity data from the Philadelphia area.

Stay tuned for detailed updates and analysis!

#USEconomy #MarketTrends #HousingMarket #LaborMarket #IndustrialProduction