This episode is sponsored by Nexo.ioChainalysis and FTX US.

Homebuilder sentiment is going through its worst stretch since the 2007-2008 housing and financial crisis. New York manufacturing data also surprised with some of the weakest numbers in a decade. On the other hand, U.S. industrial production rose to a new all-time high. So are we headed for a recession or not? NLW explores.

“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsors is “The Now” by Aaron Sprinkle. Image credit: Sadeugra/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.