The chart of the week is courtesy Mike Shedlock via SafeHaven and looks at real Gross Domestic Income (GDI) in the US. Every time GDI has turned negative we have had pretty significant slowdowns or recessions. The GDI has just entered negative territory indicating another major slowdown is just around the corner:
Gucci Sales Drop 18% In Q1 Amid China’s Slowdown And Demand For ‘Quiet
Luxury’
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Luxury conglomerate Kering reported a 10% decline in first-quarter sales as
Gucci, its flagship brand, grapples with China woes and brand redirection.
40 minutes ago