Disorganized Data

data-overloadToday’s economic data capture perfectly the condition of the US economy. Employment growth is strong, as first time unemployment claims remain under 300,000/week for the 79th straight week. In addition, inflation remains benign as measured by the unchanged reading of the August Producer Price Index, and manufacturing remains weak as witnessed by the fall in the factory utilization rate and the mildly negative reading of the Empire State Manufacturing Survey.

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