Diverging US Economic Data Begs the Question: Is a Slowdown Coming?
The mixed signals are causing jitters across Washington and Wall Street on what lies ahead for the world’s largest economy.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
US economic data are diverging wildly, fueling a debate over whether rising anxiety from President Donald Trump’s trade policies will push a moderating economy into a serious downturn.
Surveys of sentiment among households and businesses, known as “soft data,” are warning of a marked slowdown ahead as Trump pushes forward with tariffs and steep cuts to federal spending. But “hard data” from government statistics, like employment and manufacturing, suggest those fears — potentially including stagflation or even recession — are overblown.