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19th May 2025 19:39USDaily Monitor

  • Homebase data signal a 150K rise in May private payrolls, matching the average of the last three months...
  • ...But its skew towards hospitality means it is a poor overall indicator; others have a better track record.
  • Major consumer confidence surveys have diverged markedly; we suspect political bias is the problem. 

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Keywords for: 20 May 2025 US Monitor

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