Maybe it’s just me, but something seems vaguely odd and familiar.
My bad, that’s my historical reference point, here is the initial Q3 press release for today:
What disturbs me about this is that with the lapse in data collections, the OER recalculation using non-survey data resulting in a smoothed non-realistic guess for housing impacts on inflation, and worse, the failure to collect data in a timely fashion across all agencies resulting in imputed readings that are divorced from reality, just how seriously should anyone take today’s report?
I would not. And if anyone deals with business at the middle to upper middle class level, the stresses on small to intermediate sized corporations is off the chart despite political proclamations declaring Nirvana everywhere one looks.
Beware the ‘k’ in American society my friends as the lowest 80th percentile of society will tell a story that the upper 5-10% can carry the American economy for just so long before the pain begins.