Money Supply Charts Through May 2022

For reference purposes, below are two sets of charts depicting growth in the money supply. The first shows the M1, defined in FRED as the following: Before May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those …

Read more

Consumer Confidence Surveys – As Of June 28, 2022

Advisor Perspectives had a post of June 28, 2022 (“CB LEI: Falls Again in May“) that displays the latest Conference Board Consumer Confidence and University of Michigan Consumer Sentiment Index charts.  They are presented below: (click on charts to enlarge images) – While I don’t believe that confidence surveys should be overemphasized, I find these readings …

Read more

Broad-Based Indicators Of Economic Activity

The Chicago Fed National Activity Index (CFNAI) and the Aruoba-Diebold-Scotti Business Conditions Index (ADS Index) are two broad-based economic indicators that I regularly feature in this site. The short-term and long-term trends of each continue to be notable. The Advisor Perspectives’ post of June 24, 2022, titled “The Philly Fed ADS Index Business Conditions Index Update” …

Read more

Charts Indicating Economic Weakness – June 2022

U.S. Economic Indicators Throughout this site there are many discussions of economic indicators.  This post is the latest in a series of posts indicating facets of U.S. economic weakness or a notably low growth rate. The level and trend of economic growth is especially notable at this time. As seen in various measures and near-term projections, the U.S. …

Read more

Average Hourly Earnings Trends

I have written many blog posts concerning the worrisome trends in income and earnings. Along these lines, one of the measures showing disconcerting trends is that of hourly earnings. While the concept of hourly earnings can be defined and measured in a variety of ways, below are a few charts that I believe broadly illustrate problematic …

Read more

Consumer Confidence Surveys – As Of May 31, 2022

Advisor Perspectives had a post of May 31, 2022 (“Consumer Confidence Down in May“) that displays the latest Conference Board Consumer Confidence and University of Michigan Consumer Sentiment Index charts.  They are presented below: (click on charts to enlarge images) – While I don’t believe that confidence surveys should be overemphasized, I find these readings and …

Read more