Wages of production and non-supervisory employees accelerate for third month to 5% annualized. Turns out, the big drop in August was a head fake.
The Fed has now shed 29% of Treasuries it had added during pandemic QE.
Sales of EVs soar 56.7% in 2023 through Q3. Sales of vehicles with gasoline engines languish at +1.4%. The new registrations are out.
Subprime is the mother lode of profits – until it isn’t.
Wolf Richter on Adam Taggart’s “Thoughtful Money.”
Job openings in construction near record; job market retightens in manufacturing and in business & professional services where many tech companies are.
The drop in new orders was off an all-time high, while unfilled orders rose to an all-time high. Orders by major category.
Wolf Richter on This Week in Money.
The supply-chain catastrophe in 2020-2021, the edgy US-China relationship, and the scary dependence on China triggered a big corporate rethink.
They Out-Spent and Out-Earned inflation without breaking a sweat, and saved some too.