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Factory Stagflation! (Blah, Blah, Blah.)
US manufacturing activity improved in December, but contracted nevertheless, while underlying measures of input prices and employment pointed to stagflation, as usual.
That's all according to top-tier macro data released on Friday, when the ISM headline printed 49.3, topping the 48.2 consensus.
It was the "best" (in scare quotes) read since March, but the struggle to print above the 50 demarcation line (which separates expansion from contraction) speaks to the intractable nature of America's f
H-Man, those $100 tabs for nothing in a bar/restaurant are becoming onerous. The breakfast tab for eggs on Pine Island was over $40. Not sure this is going to last.