The annual rate of change in withholding taxes has grown increasingly negative in inflation adjusted terms for more than a month. Following on the heels of a weak December, it is a clear sign that the US has entered recession. Other data confirms. As reported here previously, withholding tax collections accurately foreshadowed a negative surprise in the January nonfarm payrolls headline print. February looks much worse in the early going.
You can now subscribe to the Federal Revenues Report on a standalone monthly or weekly basis.
Federal Revenues Pro Trader subscribers (or Professional Edition), click here to download complete report in pdf format.
The latest report for Federal Revenues Investor Monthly subscribers can be found here.
Try the Federal Revenues Report risk free for 90 days!
Enter your email address in the form to receive email notification when Professional Edition reports are posted.
Join the conversation and have a little fun at Capitalstool.com. If you are a new visitor to the Stool, please register and join in! To post your observations and charts, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter.
You must log in to post a comment.