US economic momentum, bullet-point-y version | FT Alphaville

US economic momentum, bullet-point-y version

Since we found it a useful exercise, here’s a quick, simplisticfied snapshot of the US recovery. Or non-recovery, whatever it is. Not all of these carry equal weight, naturally:

Stuff that looks good

– Lower oil and gas prices. Related: Shale

Auto sales

– Housing has bottomed. Related: Refi activity

Initial jobless claims drifting lower (maybe)

Stuff that looks not so good


Retail sales. Related: overall consumer spending

– Fiscal drag: FederalState & localWorries about the fiscal cliff.

– Nearing the end of record corporate profits

Manufacturing catch-up is over

– Sluggish bank lending rebound

– Midwest drought and agricultural commodities prices

Now go have a look at the Beige Book if you’re eager for more.