U.S. consumers hold their gloomiest outlook in six months on the American economy, according to the University of Michigan’s monthly survey of consumer sentiment.
Tag: inflation
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BUSINESS BANKRUPTCIES SOAR IN CANADA
In this year’s first quarter, Canada’s business bankruptcies shot up 87.2 percent, year on year, to 1,599, according to data from the government’s Office of the Superintendent of Bankruptcy. Household bankruptcies rose 14 percent.
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POWELL: RATE CUT THIS YEAR A GUESSING GAME
At a 30 April press briefing, U.S. Federal Reserve chair Jerome Powell indicated a belief that inflation will continue to ebb this year, allowing the central bank to pare back its interest rates.
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U.S. SERVICE SECTOR CONTRACTS IN APRIL
The Institute for Supply Management’s (ISM’s) April Purchasing Managers Index (PMI) for the U.S. services sector dropped from expansion into contraction, falling from 51.4 in March to 49.4 last month.
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U.S. PRODUCTIVITY NOT SHINING BRIGHT
U.S. workers’ productivity in this year’s first quarter grew by a scant 0.3 percent, compared to 3.5 percent in the quarter before.
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MARKETS: EXPECT EXTREME DISTORTIONS TO GET MUCH WORSE FROM HERE. THIS IS WHY.
Just this past week we heard from World Control, AKA, The Federal Reserve, who made it VERY clear to the market that rate cuts/more easy money is coming. With that, the MMRI has CRATERED, falling from a Red Zone/Extreme Risk high of 309.2 to an Amber Zone/High Risk 294.3.
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PLANTATION WORKERS OF SLAVELANDIA SUFFERING FROM INFLATION
Forty-one percent of Americans responding to an April Gallup poll said inflation or the high cost of living is their main economic concern. The number has risen for three years running, from 32 percent in 2022 to 35 percent in 2023.
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INFLATION HOLDS, GROWTH SLOWS IN FIRST QUARTER
The U.S. economy grew by 1.6 percent in this year’s first quarter, adjusted for inflation, the commerce department reported.
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LUXURY FIRM LVMH POSTS DISAPPOINTING QUARTERLY RESULTS
LVMH, the luxury house that owns Louis Vuitton fashion, Moët & Chandon champagne, and other high-ticket brands, posted first-quarter revenue of $21.97 billion, 2 percent below the same period in 2023.
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TURKEY’S VOTERS REBUKE ERDOGAN’S ECONOMIC POLICIES
On 31 March, the Justice and Development Party (AKP) led by Turkey’s President Recep Erdogan was drubbed in municipal elections, suffering what Bloomberg called “an unprecedented defeat.”