Business Cycle Sit-Rep, End-March

With the release of the personal income and spending release, we have real consumption (-0.1% vs. 0.0% m/m consensus) and personal income through February; also released today is real manufacturing and trade industry sales. Below, in the graph of key business cycle series followed by the NBER Business Cycle Dating Committee, I add the 3rd release of 2022Q4 GDP (discussed in context of GDO and GDP+ in yesterday’s post).

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