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22nd Aug 2023 18:19U.S., Daily Monitor

  • The downward benchmark revision to March payrolls says nothing about the near-term outlook…
  • …But the emerging softening in growth in spending on discretionary services is a hint of trouble ahead.
  • Ignore the plunge in headline July durable goods orders today; the key number is core capex orders.

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Keywords for: 24 August 2023 US Monitor

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