And after five months of declines, government consumption and investment rose again.
The Fed, which is trying to slow demand to tamp down on consumer price inflation, gnashes its teeth.
Credit-score inflation throws a monkey wrench into the calculus of credit risk.
Spending on gasoline plunges due to plunge in price. “Real” spending on durable goods, amazingly, jumps for 2nd month. Services spending rises but stuck below pre-pandemic trend.
Over the decades, recessions were preceded by spikes in unemployment claims. We keep our eyes on them as the recession watch has begun.
The educational-industrial complex is laughing all the way to the bank.
Forbearance and pandemic cash run out. But a lot of fun was had by all.
Buy-Now-Pay-Later (BNPL) Lenders Face Tougher Reality.
The balance of loans & leases outstanding rose on much higher vehicle prices but much lower sales volume.
Though spending is slowly shifting back to services, consumers still binged on durable goods.