Daily and weekly data for the US economy shows that:
1) Trade policy uncertainty is returning to more normal levels
2) Economic policy uncertainty is returning to more normal levels
3) Restaurant bookings remain solid
4) US air travel remains robust
5) Las Vegas visitor volumes and total nights occupied remain solid
6) Same-store retail sales remain solid
7) Hotel bookings remain solid
8) Banks’ loan growth is increasing
9) Bankruptcy filings are stable
10) Broadway attendance and visits to the Statue of Liberty remain at normal levels
Maybe the reason the labor market is softening is because of lower immigration and not because of a slowdown in the broader economy?
Sources: Economic Policy Uncertainty, Macrobond, Apollo Chief EconomistSources: Economic Policy Uncertainty, Macrobond, Apollo Chief EconomistSources: Conference Board, Macrobond, Apollo Chief EconomistSources: OpenTable, Apollo Chief EconomistSources: US Department of Homeland Security, Macrobond, Apollo Chief EconomistSources: Bloomberg, Macrobond, Apollo Chief EconomistSources: Redbook Research Inc., Macrobond, Apollo Chief EconomistSources: STR, Haver Analytics, Apollo Chief EconomistSources: Federal Reserve, Macrobond, Apollo Chief EconomistNote: Filings are for companies with more than $50 mn in liabilities. For week ending on September 4th, 2025. Sources: Bloomberg, Apollo Chief EconomistSources: The Broadway League, Macrobond, Apollo Chief EconomistSources: irma.nps.gov, Apollo Chief Economist
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