Real Time Tax Data Consistent With Recession
Monday, February 22, 2016 16:28
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by Mike ‘Mish’ Shedlock
Mish Talk
US Economy Stalled
Real-time tax data indicates the U.S. economy stalled out last Autumn and has now gone negative. Income tax withholdings are down 0.2% year-over-year in real terms in the past four week. The trends indicate recession if they continue.
Via Email from TrimTabs …
“Real growth in income and employment taxes has been decelerating since last autumn, and it turned flat in recent weeks,” said David Santschi, CEO of TrimTabs. “If the trend persists, it would be consistent with a recession.”
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