There have been a lot of changes recently, and I haven't updated it. I hate this one because I don't own it. When did I forget about camping!
Today, let's talk about recent economic data on rapid diving in the US.
The counselor wrote in the November 4 article “Looking at the Market: Isn't Powell's “American Economy” the same as in economic data? It says:
As a result, after the election was over, the US economic data unexpectedly started the “fast diving” mode：
In 2018, when the federal policy interest rate was added to less than 3%, the US economy has quickly fallen into recession. Driven by the overstorage rate this year, the US economy seems to be strong, but it cannot withstand such a rapid contraction. Recently, various US economic data have dived rapidly:
• Markit's initial manufacturing PMI for November was 47.6, falling short of expectations of 50 and 50.4 last month.
• The initial value of Markit's service sector PMI was announced at 46.1 in November, falling short of expectations of 47.9 and 47.8 last month
• Last week, the number of people applying for unemployment benefits for the first time was 240,000, exceeding market expectations of 225,000.
• Last week, 1.551 million people applied for unemployment benefits for the first time, exceeding market expectations of 1.5 million
Generally speaking, the number of people who continue to claim unemployment benefits is an indicator of how difficult it is for people to find a job after losing their job:Continued unemployment claims rose to their highest level since February, indicating that in a gradually cooling labor market, Americans who have lost their jobs are even harder to find...