Economies either grow or they shrink, though shrinking is a misplaced word here. A real economic system is always moving forward, even during recession and dislocation. The word dislocation is used in modern economics where it probably does not belong, as well. The entire idea of a dislocation is antithetical to a real economy, being an abnormal separation (emphasis on [...]
The ISM Manufacturing reports for January and February 2013 looked to be showing a noticeable rebound in manufacturing activity after some rather dicey months in the second half of 2012. I posited that this rebound was largely inconsistent with broader data (notably durable goods and factory orders) and explained them in the context of a potential inventory cycle heading into [...]
The employment report, as it always does, captured the most attention, but it was the wholesale inventory/sales report that deserved the widest audience. There will be plenty to say about the real employment situation currently (I will have a subsequent post devoted to earned income and job bean counting), but any discussion of jobs has to start with a broader [...]
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