Retail sales jumped up with the Federal transfer payments and have more recently
started to decline as transfer payments subsided. And the remaining Federal unemployment comp
of $300/week expires Labor day for approximately 7 million beneficiaries:
More evidence of a housing decline, even with the lowest rates ever:
Lumber and housing often move together:
This number is seasonally adjusted, and was higher in July because auto plants typically shut down in July didn’t this year due to prior production issues:
Industrial production in the United States increased 0.9 percent in July 2021, following a downwardly revised 0.2 percent growth in June and beating market expectations of 0.5 percent. Manufacturing output rose 1.4 percent, mainly due to a jump of 11.2 percent for motor vehicles and parts, as a number of vehicle manufacturers trimmed or canceled their typical July shutdowns. Despite the large increase last month, vehicle assemblies continued to be constrained by a persistent shortage of semiconductors. The output of utilities decreased 2.1 percent in July, while the index for mining rose 1.2 percent. source: Federal Reserve
Steel and industrial production are also somewhat related:
