Tags: Exclusive Interviews | Newsmax TV | Steve Malzberg Show | larry kudlow | economy | mild | recession

Economist Larry Kudlow: 'We're in a Mild Business Recession'

 

By    |   Friday, 03 June 2016 09:14 PM

Economist Larry Kudlow told Newsmax TV on Friday that the Obama administration's dismal jobs report for May actually proved that "job gains have been falling since December."

"It's been five months now — and the only reason the unemployment rate fell a bit is because 458,000 people left the labor force," the CNBC senior contributor who also hosts a syndicated radio-talk show, told "The Steve Malzberg Show" in an interview. "Incidentally, 362,000 left it last month.

"It's not a pretty picture," he continued. "I think we are in a mild business recession.

"It's not a whole economy recession, because consumers are still spending some and housing is OK, but … business recessions are always the leading indicator.

"What we're seeing is profits falling now for over a year, business investment falling for over a year, the [Institute for Supply Management reports] are flat below year-ago levels, factory orders are down.

"In other words, the business side is in a recession — and if that continues, it's going to spread," Kudlow said. "You're going to continue to have slow job gains, if any, lousy income, and poor consumer spending."

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Economist Larry Kudlow told Newsmax TV on Friday that the Obama administration's dismal jobs report for May actually proved that "job gains have been falling since December."
larry kudlow, economy, mild, recession
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2016-14-03
Friday, 03 June 2016 09:14 PM
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