We have previously reviewed the Uncle Sam’s withholding tax data as a read into the overall health of the economy.
The most recent data point (March 13) shows W/H tax reaching a 23 month low. But we don’t like to rely on any single data point, especially one from a volatile series. Instead, look at the overall trend — is it moving up, or is it heading down?
At times, we have been critical of the perplexing read of this data by Charles Biderman of TrimTabs. Today, few words are necessary, as the charts speak for themselves.
Is this an economy in recovery, or one that is weakening?
charts courtesy of Matt Trivisonno
Withholding Tax Haul Hits 23-Month Low
May 14th, 2008 at 3:32 pm
DAILY TREASURY STATEMENT
Cash and debt operations of the United States Treasury
Tuesday, May 13, 2008
Withholding Taxes Chart