Chart of the Day: Democrats Salivate on Trump Indictment, Meanwhile the Economy is Tanking

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As the Democrats have politically detonated the war on MAGA and have indicted Trump, the national narrative will be focused on the political drama – with all its ins and outs.

Meanwhile, the economy is tanking. Looking at the Atlanta Fed’s GDPNow, clearly shows where the focus of the country should be. See this in the chart below and learn more here.

The March Manufacturing PMI® registered 46.3%, 1.4% points lower than the 47.7% recorded in February – the PMI is one of the key forward-looking economic indicators. Regarding the overall economy, this figure indicates a fourth month of contraction after a 30-month period of expansion. The Manufacturing PMI® is at its lowest level since May 2020, when it registered 43.5%.

The table below shows that the economy is not only rolling over to the downside but is starting to accelerate.

Entering April, it has provided us with largely weak economic data.

IMF warns global growth outlook weakest in over 30 years. See this in the chart below and learn more here.

We shall see what the jobs data provides for April, but perhaps it may be meaningless – since many are checking out of the economy – “quite quitting” anyway. But no, our politicians will be more focused on political infighting, and our economic welfare will take a back seat.

See more Chart of the Day posts

By Tom Williams

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