Mixed economic indicators show potential recession on the horizon

In June, employment in education and health services surpassed expectations, while private nonfarm payroll fell short. Key indicators monitored by the NBER BCDC, such as industrial production and personal income, have remained flat or are declining, despite rising employment and personal income. Alternative indicators show a similar trend, suggesting a slowdown since April. Weekly economic activity indicators confirm this trend, with data reflecting economic conditions up to the second week of June. The picture painted by various economic measures is mixed, with some pointing to a potential recession on the horizon.

Read more at 1. Global stocks rally on positive economic data and vaccine optimism. – CNBC
2. Tesla announces plans to build a new Gigafactory in Texas. – Wall Street Journal
3. Apple unveils new lineup of iPhone 12 models with 5G capabilities. – Reuters
4. Amazon reports record-breaking Prime Day sales despite pandemic challenges. – Barchart
5. Federal Reserve keeps interest rates unchanged, signals continued support for economy. – CBS MarketWatch: June Payrolls Jump, but Other Growth Indicators Paint a Sluggish Picture