Helping You Survive and Prosper in the Greater Depression
The U.S. services sector cratered in March. The Institute for Supply Management's (ISM) Services Purchasing Managers' Index (PMI) declined to 51.2 in March, down from 55.1 in February. The reading was below the market forecast of 54.5, suggesting … [Continue reading] about Recession is nigh? Services sector crashes in March, private sector payrolls rise less than expected
The Federal Reserve Bank of Atlanta's GDPNow Model estimate for the first quarter was trimmed to 1.7 percent, down from the previous estimate of 2.5 percent. From the regional central bank: "The GDPNow model estimate for real GDP growth … [Continue reading] about Atlanta Fed GDPNow estimate slashed to 1.7% for Q1 amid weak data
Add India to the de-dollarization campaign. As part of broader efforts to internationalize the rupee, India's government announced that it would begin offering its currency as an alternative for trade to nations that are experiencing a dollar … [Continue reading] about India ditching U.S. dollars to internationalize rupees, supporting countries facing ‘currency risks’
Saudi Arabia keeps sticking it to President Joe Biden. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, surprised global financial markets by announcing an expected production cut on Sunday. OPEC+ producers … [Continue reading] about WTI crude oil prices top $80 after OPEC+ announces surprise production cut
The U.S. banking turmoil has so far not really impacted consumers. Still, consumers are getting impatient in this economy. The University of Michigan's Consumer Sentiment Index was revised lower to 62 in March, down from a previous estimate of … [Continue reading] about Consumer confidence weakens in March: University of Michigan