CHART OF THE DAY: The Latest of #LateCycle U.S. Economic Indicators

Editor's Note: The following chart and excerpt are from this morning's Early Look written by Hedgeye CEO Keith McCullough. If you're looking for a dynamic way to to get ahead of anemic consensus groupthink each morning click here to learn more.

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CHART OF THE DAY: The Latest of #LateCycle U.S. Economic Indicators  - z la lal la 09.08.15 chart

...While we won’t be sure until we move out further in time, with every US Jobs Report we’re becoming more sure that the peak in the latest of #LateCycle US economic indicators peaked when the cycle did.

 

As you can see in today’s Chart of The Day (with my doodles):

    1. The peak (year-over-year rate of change) in both non-farm and private payroll growth was in FEB 2015
    2. Non-farm (NFP) payrolls have slowed from 2.34% in FEB to a YTD low of 2.09% in AUG
    3. Private payroll growth has slowed from 2.71% in FEB to 2.37% in AUG