- by New Deal democrat
[If last week was a slow week for economic data, this week is a virtual wasteland until Thursday, so I took yesterday off.]
Last month I wrote that typically it has taken at least a 20% decline in housing construction to be consistent with an oncoming recession, and that we weren’t there yet.
Outside of the 1970 recession, heavy truck sales have declined at least 23% (and usually much more than that) before a recession began. Light vehicle, including cars, have typically declined at least 10%.