In recovery (as Jim noted using GDP), but not recovered. And maybe even declining for certain key indicators. Figure 1: Nonfarm payroll employment (dark blue), Bloomberg consensus for January as of 1/30 2/1 (blue square), industrial production (red),  personal income excluding transfers in Ch.2012$ (green), manufacturing and trade sales in Ch.2012$ (black), consumption in Ch.2012$ … Continue reading The Economy at Trump’s End