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1st Aug 2023 11:14U.S., Daily Monitor

  • ADP might move markets, but it is not a remotely reliable indicator of the monthly payroll numbers.
  • Manufacturing’s struggles continue; output and jobs are likely to fall over the next few months.
  • The surge in nonresidential construction spending appears to be ending, abruptly; housing rebounding?

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Keywords for: 2 August 2023 US Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence