US Economic Data Plunges Most In 10 Months To 4-Month Lows

Tyler Durden's picture

Judging by the stock markets the last two weeks have been one of the best periods ever but the reality - hidden behind a smoke-screen of central bank liquidity and jawboning mirrors is dire. The last ten days have seen miss-after-miss in macro economic data - in fact this is the biggest plunge in macro data in 10 months. Despite the stock market's exuberance (at all-time highs), macro data has rolled over dramatically to 4-month lows. Of the major economic data points we have missed 18 of the last 20. With sentiment sagging, GDP revising lower, and earnings season disappointing, we can only imagine the BTFD opportunities that await.

 

  • Markit US PMI    Miss
  • ISM Manufacturing    Miss
  • ISM New York    Miss
  • Vehicle Sales    Miss
  • ADP Employment    Miss
  • ISM Services    Miss
  • Challenger Job Cuts     Miss
  • Initial Claims    Miss
  • Trade Balance    Beat
  • Non-Farm Payrolls    Miss
  • Hourly Earnings    Miss
  • NFIB Small Business    Miss
  • Wholesale Inventories    Miss
  • MBA Mortgage Apps   Miss
  • Import Prices    Miss
  • Initial Claims    Beat
  • Retail Sales    Miss
  • PPI    Miss
  • UMich Confidence    Miss
  • Business Inventories    Miss

 

The disconnect yawns ever wider...

 

With macro data plunging...

 

and it seems commodities saw it coming once again...

 

Charts: Bloomberg