Something doesn’t add up here:
Downward economic data revisions have become the new normal.
So far, US industrial production data has been revised down in 9 out of the last 10 months.
Meanwhile, Job openings have been revised downward in 15 out of the last 20 months.
As for the labor market, monthly jobs reports have been revised down in 14 months since the beginning of 2023.
Additionally in August, the Labor Department revised down 12-month job growth by a massive 818,000 jobs.
What is happening here?
Something doesn't add up here:
Downward economic data revisions have become the new normal.
So far, US industrial production data has been revised down in 9 out of the last 10 months.
Meanwhile, Job openings have been revised downward in 15 out of the last 20 months.
As for… pic.twitter.com/ldU7NGqXwd
— The Kobeissi Letter (@KobeissiLetter) November 25, 2024
CHI Fed: Q4 is off to a sluggish start as economic activity comes in below trend w/ each of the 4 subindexes having negative contributions to the overall index: pic.twitter.com/IuVRvyEkyF
— E.J. Antoni, Ph.D. (@RealEJAntoni) November 26, 2024