Reports this week: Nonfarm Payrolls: headline +236k [+0.15%] m/m; avg hourly earnings +0.3% m/m. Expansionary. Also true for my payrolls “recession detector” sub-index: “working part time/slack work” (LNS12032195): +33k, which is still at expansionary levels. ISM Manufacturing: 46.3 (expected 47.5); contractionary. ISM Services: 51.2 (expected 54.4); weakly expansionary. Factory Orders: -0.7% m/m (expected -0.4%); contractionary. […]from Peak Prosperity https://ift.tt/zsA38Rx
