– by a New Deal Democrat
My Weekly Indicators post is up at Seeking Alpha.
There was a slower deterioration in the matched indicators, but an interesting bounce in several of the short leading indicators, especially in the weakness of the US dollar (which is paradoxically positive because it helps exports and limits imports).
But the biggest news was in one of the twice-monthly indicators, consumer confidence from the University of Michigan, which did this:
As I wrote yesterday, 2011 saw all indicators collapse at once, and consumer confidence in particular, so the sudden drop in consumer expectations over the past few weeks is a bad sign.