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Little to suggest manufacturing is turning a corner.
Clearer signs that services sector employment is rolling over.
Underlying claims have plateaued, and will probably slip back in the near term.
Meagre growth in unit labor costs supports the case for policy easing.
The underlying trend in equipment investment looks weak, despite the bumper Q2 headline.
An uptrend in initial claims is probably still in the pipeline.
Tranquil labor market conditions unlikely to last much longer.
Generous seasonals still depressing claims, but an uptrend is coming.
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