Over the past few months, economic analysts and experts have been sounding the alarm about a recession. There have been increasing concerns about economic instability, with these worries echoing in financial markets and boardrooms nationwide. Now, a surge of data has confirmed what many have feared: the United States is on the verge of a recession.
The state of retail sales has always been an indicator of economic well-being, and the most recent figures are concerning. Retail sales in May were notably poor, worsened by significant downward adjustments to previous months’ figures. This trend suggests that American consumers are facing significant challenges. Large retailers such as Target, Kohl’s, and McDonald’s have
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US temporary help services jobs have seen negative growth for 20 straight months, the longest streak since the 2008 Financial Crisis.
Temporary help services employment is considered a leading indicator for the entire economy's employment.
Over the last 30 years, such a long… pic.twitter.com/1PWOM8oEt1
— The Kobeissi Letter (@KobeissiLetter) July 14, 2024
US economy weakens:
1) 39 MONTHS OF INFLATION ABOVE 3%
2) SLOWING GDP GROWTH AT 1.4% IN Q1
3) MEDIAN HOME PRICES AT ALL-TIME HIGH OF $434K
4) $2 trillion deficits
5) $34.8 tn NATIONAL DEBT – record6) 1.5 MILLION Americans lost a job in 6 months 👇https://t.co/aBnhvZ4VI6
— Global Markets Investor (@GlobalMktObserv) July 14, 2024