Saturday, May 13, 2023

Weekly Indicators for May 8 - 12 at Seeking Alpha


 - by New Deal democrat

My “Weekly Indicators” post is up at Seeking Alpha.

There was more slow deterioration in the coincident indicators, but interestingly a bounce in several of the short leading indicators, particularly in the weakness of the US$ (which paradoxically is a positive, because it helps exports and crimps imports).

But the biggest news was in one of the twice a month indicators, consumer confidence from the University of Michigan, which did this:

As I wrote yesterday, in 2011 all of the indicators cratered at once, and in particular consumer confidence, so the sudden downturn in consumer expectations in the past couple of weeks is a bad sign.