US economic growth is slipping and a new recession may be near. If the current expansion ends at some point in the near future (assuming it’s still alive), the “recovery” in personal income will be the weakest by far among business cycles since 1970.
Daily Archives: August 3, 2022
Macro Briefing: 3 August 2022
* House Speaker Pelosi’s visit to Taiwan raises U.S.-China tensions
* China’s planned war games appear to be defacto military blockade of Taiwan
* China Composite PMI, a GDP proxy, eased in July but still shows solid growth
* Eurozone survey data show currency bloc slipped into recession in July
* Turmoil looms for global semiconductor market as US eyes new China chip curbs
* Household debt rose above $16 trillion in Q2 for the first time
* US gasoline prices continue to ease, nearing $4 a gallon
* US job openings fell to nine-month low in June:
