An Addendum to Recent Data Points – The Message from Lumber
We have recently discussed the manufacturing sector’s problems several times, as well as the trends inemployment data. As a general remark to this, it seems that the sectors that have lately contributed especially strongly to employment growth were health care & social services, leisure & hospitality and construction.
The echo boom in construction may be running out of steam though. Interestingly, this is once again happening even before a rate hike cycle has begun – in a sector that traditionally benefits disproportionately from low interest rates. Data on housing starts, permits and construction are admittedly quite erratic from month to month. However, there are a number of signs that the sector may be about to cool down. Said erratic data on starts and permits have just nosedived again from what remains a historically low base.
This post was published at Acting-Man on November 21, 2015.
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