We got the latest numbers from the Dallas Fed. The numbers were not good.
Here is the information used in the video:
https://tradingeconomics.com/united-states/dallas-fed-manufacturing-index
The Dallas Fed covers the oil market which, if there is an industry on fire, it is energy, yet the numbers are down. For two months, the manufacturing metrics are negtaive.
This is something we discussed back in the 4th quarter. While everyone was focusing upon inflation, a trailing indicator, we were looking ahead. The inventory story is hard to miss when you understand how it echoes throughout the economy.
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