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This indicator has a "disturbingly high correlation" with the job market...
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Tuesday, August 03, 2010
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From Pragmatic Capitalism:

Last week's data on durable goods might be the most important piece of data we’ve seen in many months.

As David Rosenberg has previously noted, durable goods have a disturbingly high correlation with job growth over the last 15 years. This chart shows just how tightly correlated the labor market is with the change in durables.

Last week’s data showed the second consecutive downtick in...

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Topics: Economy | Cruxallaneous
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