– US Macro Collapses To 11-Month Lows, 88% Of Data Has Missed In February (ZeroHedge, Feb 18, 2015):
Despite the total and utter cognitive dissonance of talking-heads on mainstream media channels, the US economic data is not ‘strong’, is not ‘goldilocks’, is not ‘decoupled’, is not ‘solid’. In fact, it’s absolutely terrible. Bloomberg’s US Macro data indicator which tracks both beats-and-misses and improvement/deterioration in data – is at 11-month lows. February alone has seen 29 data items miss expectations(from retail sales to industrial production) with only 4 data points beating expectations(including the constantly revised nonfarm payrolls data which so many hang their hat on).
US macro at 11-month lows… (note that the data cliff-dives at end Sept 2014 – which corresponds with the government’s fiscal-year-end)
February…
MISS
- Personal Spending
- Construction Spending
- ISM New York
- Factory Orders
- Ward’s Domestic Vehicle Sales
- ADP Employment
- Challenger Job Cuts
- Initial Jobless Claims
- Nonfarm Productivity
- Trade Balance
- Unemployment Rate
- Labor Market Conditions Index
- NFIB Small Business Optimism
- Wholesale Inventories
- Wholesale Sales
- IBD Economic Optimism
- Mortgage Apps
- Retail Sales
- Bloomberg Consumer Comfort
- Business Inventories
- UMich Consumer Sentiment
- Empire Manufacturing
- NAHB Homebuilder Confidence
- Housing Starts
- Building Permits
- PPI
- Industrial Production
- Capacity Utilization
- Manufacturing Production
BEAT
- Personal Income
- Markit Services PMI
- Nonfarm Payrolls
- JOLTS
* * *
But apart from that… everything is awesome.
Yet, they pump and pump the market, and it continues to go up regardless of the truth. They lie and lie, they twist the market, and if it ever stops, it will deflate like an overblown balloon……shoot across the room and collapse.