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4th Feb 2025 10:06USDaily Monitor

  • March 2024 payrolls likely will be revised down by about 670K after benchmarking to UI records...
  • ...The birth-death model’s contribution to payroll growth since then probably will be revised down too.
  • We see some evidence of tariff “front-running” in December trade data; expect a lot more to come.

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Keywords for: 6 February 2025 US Monitor

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