Withholding Tax Update: 23-Month Low

Thursday, May 15, 2008 | 10:00 AM

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.

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Is this an economy in recovery, or one that is weakening?

31308_wh_chart
31308_wh_q_over_q_chart
charts courtesy of Matt Trivisonno


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Sources:
Withholding Tax Haul Hits 23-Month Low   
May 14th, 2008 at 3:32 pm
http://www.trivisonno.com/withholding-tax-haul-hits-23-month-low

DAILY TREASURY STATEMENT
Cash and debt operations of the United States Treasury
Tuesday, May 13, 2008
http://fms.treas.gov/webservices/show/?ciURL=/dts/08051300.pdf

Withholding Taxes Chart 
http://www.trivisonno.com/investing/withholding-taxes-chart

Thursday, May 15, 2008 | 10:00 AM | Permalink | Comments (20) | TrackBack (0)
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Comments

there is no other explanation. the chart CLEARLY shows that we must be at the first stage of duplicating the late 2001 recession. It is so clear, and presented as to appear so obvious. Gosh, reading future economic trends is so easy!
Now all we need is another September 11th, then it will be a perfect correlation!

Posted by: blue | May 15, 2008 10:08:29 AM

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