Joe LaVorgna's Favorite Economic Indicator Is Looking Bullish

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		Tech Science Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Law International Video Latest Wednesday, July 18, 2012 Joe LaVorgna's Favorite Economic Indicator Is Looking Bullish We recently published 'The Most Important Charts In The World' according to some of the top financial minds. And Deutsche Bank's Joe LaVorgna pointed us in the direction of federal deposits. He said he tracks this chart since the federal government is always collection payroll taxes thus giving us a real-time measure of labor market health. What's more, unlike most economic data, tax receipts aren't revised. The latest data for the current quarter shows receipts growing 6 percent year-over-year.  "By no means is the economy booming, but continued labor income growth similar suggests that a recession is not imminent. We will be watching to see if the upcoming employment data corroborate this view." Read » Also On Money Game Today: IBM Misses On Revenue, Beats On Earnings Watch How Germany Ate Everyone Else's Lunch After The Euro Was Created STOCKS RALLY: Here's What You Need To Know LIVE: Yum Reports Earnings Advertisement CHART OF THE DAY: Here Are 4 Factors That Will Put The Squeeze On Dr. Copper CHART OF THE DAY: Retail Sales Growth Is Freefalling, And Goldman Has Slashed Its Q2 GDP Number CHART OF THE DAY: Look At What Francois Hollande Has Done To French Borrowing Costs Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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