Clearly you have what looks like a turning point. But based on these charts alone there is so much noise that it very hard to tell. If you look at the volume around 1997 it looks similar to todays.
I am more worried about the consumer spending data, then the manufacturing data. But maybe it is the European data that will be making the difference this time around.
I'm watching to see if there is a greater decline. Manufacturing slowdowns lead to layoffs leads to consumers getting hurt. I think we definitely have a mosaic of information to watch. Hard to know how to factor in the European data.
2 comments:
Clearly you have what looks like a turning point. But based on these charts alone there is so much noise that it very hard to tell. If you look at the volume around 1997 it looks similar to todays.
I am more worried about the consumer spending data, then the manufacturing data. But maybe it is the European data that will be making the difference this time around.
I'm watching to see if there is a greater decline. Manufacturing slowdowns lead to layoffs leads to consumers getting hurt. I think we definitely have a mosaic of information to watch. Hard to know how to factor in the European data.
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