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3rd Jun 2024 17:42USDaily Monitor

  • The drop in the Atlanta Fed Q2 GDPNow estimate says very little; it's still far more model than tracking.
  • April's JOLTS report brings further signs of labor market normalization. Lower wage growth is likely to follow.
  • ADP's data and the employment index of the ISM services survey are hopeless indicators of payrolls.

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Keywords for: 5 June 2024 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence