Fresh reads on jobless claims and retail sales are easing recession fears and reinforcing the view that the US economy is still on solid footing. Yahoo...
jobless claims and retail sales are easing recession fears Schafer notes that a weak July jobs report stoked recession fears earlier in the month, kicking off a three-day market sell-off. Goldman Sachs raised its recession odds from 15% to 25%, however, he emphasizes that the move does not signal an incoming recession. Rather, it indicates that the risks are more elevated, especially as concerns over the labor market grow.
And then the key question was as you get some, these people like to call them secondary readings on the US economy.You're still seeing a labor market that doesn't have a high tick up in layoffs. But the weekly jobless claims have been pointing to the fact that yes, there is some soft, softness but not material, soft.Because when you think about inflation falling and how much more restrictive that makes interest rates, the rates are actually getting more restrictive essentially by the month, by the day.It's not necessarily simply as straight of a read through as the data.
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