Posted 1/27/2024, 1:00:00 PM
Weekly Economic Indicators Point to Slowing Growth Ahead
- Purpose is to look at high frequency weekly indicators to provide a nowcast of the economy ahead of monthly/quarterly data
- Goes in order of long leading, short leading, then coincident indicators with little commentary to minimize bias
- Long leading indicators show continued inversion/flattening of yield curve signalling economic weakness ahead
- Short leading measures like temporary staffing, new orders declining but consumer spending remains positive
- Coincident indicators were mixed this week with production, transport, consumption down but jobs market remains tight