Withholding tax collections have weakened in July, breaking down from the narrow range of 5-6% annual nominal growth they had been in throughout the second quarter. The nominal growth rate declined to +2.4% this week, which is near or below zero growth in real terms, depending on what you believe the inflation rate to be.
Download this report to view the real time data through July 29 in chart and table format and read the analysis of the implications for the coming US economic data releases for July. It will give you a leg up in preparing for those releases and the market reactions.
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