Month: August 2022

The Fed’s favorite inflation measure, the personal consumption expenditure index, increased 6.8% Y-o-Y in June, up from 6.3% Y-o-Y in May, and its highest reading since 1/82! Moreover, the employment-cost index, a measure of wages and benefits for civilian workers,…

At LVMH, the world’s largest luxury group, whose brands include Christian Dior, Louis Vuitton, Tiffany, and others, reported a 28% Y-o-Y sales increase, and at Hermes, home of the $20,000 Birkin bag, sales are up 23% Y-o-Y. Conversely, McDonald’s is…

After contracting at an annualized rate of 1.6% in 22Q1, GDP again shrank in 22Q2 by 0.9%. The reason; inventories reduced 22Q2 GDP by 2.01 points. Similarly, net exports boosted GDP by 1.43 points after reducing it by 3.23 points…