High-Frequency Post-Virus Recovery - 2023-07-12
Date:
Thursday, July 13, 2023
Summary:
Other than a weather-related drop in rail-freight loadings, the high-frequency data looks great. A beat in new claims lowers the implied unemployment rate, showing no signs of any kind of landing.
Meanwhile, huge dovish beats in the Producer Price Index more than confirm yesterday's disinflationary signal in CPI. We've updated yesterday's Data Insights: CPI/PPI, so click here.