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📚 What initial jobless claims measure, and why a low reading is not a strong job market

📚 How core PCE is built, and why the Fed's 2% target doesn't feel like 2% to households

📚 What new home sales measure, and how to read a number that can't say whether it rose

📚 What housing starts really measure, and why single-family versus multifamily matters more than the headline

📚 What PPI's intermediate demand stages tell you before final demand does

📚 What the ISM services PMI actually measures, and why 55.4 hides a stagflation-lite signal

📚 What housing starts actually measures, and why single-family and multifamily tell different stories

🇺🇸📚 What May's US trade deficit whipsaw teaches about reading the data

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