The Latest Economic Data From John Williams

The Latest From John Williams,

– Headline February Real Retail Sales Fell by 0.8% (-0.8%), Annual Retail Sales Growth at Recession Level

– First-Quarter Real Sales Contracting at 2.6% (-2.6%) Annualized Pace, Worst Showing Since Depths of Economic Collapse

– Real Earnings Were Down for the Month

– February Year-to-Year Inflation: 0.0% (CPI-U), -0.6% (CPI-W), 7.6% (ShadowStats)

– Unstable Home Sales Data – New Sales in Protracted Stagnation, Existing Sales Trending Lower

– Durable Goods Orders in Back-to-Back Quarterly Contractions, Both Before and After Consideration of Commercial Aircraft Orders and Inflation

– Signal Is for an Intensified Decline in Production and GDP, in Both First- and Second-Quarter 2015, a Looming Recession