by Mike ‘Mish’ Shedlock
Economic Reports are Meaningless Now. Let’ discuss why.
A reader said today “I have an idea, let’s get back to the global economic talk. Like EU and bonds, loans. This is just another COVID news feed now.”
PPI for February
The PPI is one of the more timely reports. And it shows what we all know (or should know anyway) as crude prices have plunged.
The interesting thing is the economists totally blew it expecting no change but instead we see a 0.6% decline according to Bloomberg, but the BLS says -0.9%.