The y/y for the consumption deflator in the US eased from 6.61% to 6.27% in April. The gap between headline CPI and PCE price index inflation has now widened to…
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Severe price pressures have buffeted the global economy over the past year and a half. But there are now emerging pockets of disinflation (beyond used cars & trucks). Lumber futures…
Homebuilder sentiment slid at the start of May according to the NAHB, marking the fifth straight monthly decline. Housing remains a key barometer of the broader economy. It is no…
The value of home sales in China slumped 48.6% y/y in April. Rising unemployment combined with falling house prices and sales could auger a fresh wave of defaults across the…
The authorities in China are intensifying lockdowns in Shanghai and Beijing in their latest attempts to eradicate Covid. Xi Jinping doubled down on the zero-Covid strategy last week. But the…
Mass testing has begun in the populous district of Chaoyang, Beijing, which reported 26 covid cases over the weekend. Beijing’s residents are stocking up on essentials in anticipation of a…
