Indicators of restaurant activity continue to show signs of weakness in the US.
— The Kobeissi Letter (@KobeissiLetter) December 3, 2023
Interestingly, this has been almost perfectly correlated with the Fed raising rates.
Restaurant activity in the US hit an all time high in August 2021.
Since the Fed started raising rates in March… pic.twitter.com/DHd7TKRSQX
Sunday, December 3, 2023
Restaurant activity in the US hit an all time high in August 2021. Since the Fed started raising rates in March 2022, restaurant activity has moved in a straight line lower.
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