As economic indicators signal a slowdown and companies prepare to cut back amid diminishing business activity, the prospect of a similar raise to the previous year dims for many workers. With the CFNAI pointing to a slowdown in economic growth in October and JPMorgan forecasting declines in key economic metrics, the landscape suggests a cautious economic outlook. The concurrent sell-off of U.S. Consumer Staples by hedge funds adds another layer of concern, underscoring the growing challenges in maintaining robust economic momentum.
A separate survey conducted by technology job site Hired found that tech salaries have reached a five-year low when adjusted for inflation.
Read more: https://t.co/QF2BQaBHAV
— unusual_whales (@unusual_whales) November 22, 2023
The CFNAI points to a slowdown in economic growth in October, with declines in all 4 categories dropping the index to its lowest in 7 months.@ChicagoFed pic.twitter.com/zS6IGhCTEq
— Daily Chartbook (@dailychartbook) November 22, 2023
Twitter sentiment and consumer sentiment have diverged in recent months.
via Goldman Sachs pic.twitter.com/k9Mu0cpgpJ
— Daily Chartbook (@dailychartbook) November 22, 2023
"We believe the University of Michigan consumer sentiment index will be revised up 0.1pt to 60.5 between the preliminary and final November reports, showing a 3.3pt decline relative to the final October print."
– JPMorgan pic.twitter.com/zmLS93Spmj
— Daily Chartbook (@dailychartbook) November 22, 2023
"We estimate that new orders for durable goods fell 4.0% in October while related shipments declined 1.0%."
– JPMorgan pic.twitter.com/Eza9ce3myw
— Daily Chartbook (@dailychartbook) November 22, 2023
https://twitter.com/VogtAlexander_/status/1727218876331573282
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"Hedge funds sold US Consumer Staples at the fastest pace since Apr’20."– Goldman Sachs pic.twitter.com/CYP4jXcRJN
— JR | In Case You Missed It_ (@JoseRicaurteJ) November 22, 2023