Core Capex 3-Month Annualized – Business Insider
A few weeks ago, we mentioned that Gluskin-Sheff economist David Rosenberg was worried about the sharp downturn in the year-over-year growth rate of the 3-month average of core CAPEX (capital expenditure) orders.
His interpretation: The fiscal cliff is already creating a lot of uncertainty, and could be pushing the US economy closer to recession.
Now everybody is talking about this fact and this chart.
In his latest note out, BTIG’s Dan Greenhaus updates Rosenberg’s chart with the latest data. It’s still not pretty (though it actually ticked up a tad with the latest reading.