As long as companies can increase prices faster than cost and consumers continue to buy there won't be a recession. But, what happens when cost increases finally destroy demand, and sales plateau or begin to fall? Do companies respond by lowering prices, or do they try to hold prices at elevated levels? The tipping point may be approaching for many. Just waiting on the SJC ruling on student loans. If they rule against the government that's a lot of cash that won't go to discretionary spending.
Today we have yet another data point from DE (#msg-171947205) to supplement the recent data point from CAT (#msg-171784334) to argue against a near-term economic downturn.
True, both DE and CAT have special tailwinds, but we can’t simply dismiss the stellar performance of these two bellwethers from the outlook for the global economy.
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