Friday, December 01, 2006

Numbers That Speaks For Themselves

While the third quarter GDP data were slightly bullish, they refered to the third quarter. The numbers for the fourth quarter that have come out in recent days have had a very different tone. I'll wait for the many vital data coming out next week, most importantly the non-manufacturing ISM, the employment report and the flow of funds report, before I give a more extensive analysis of the current state of the U.S. economy. For now, I'll just let the numbers speak for themselves:

Durable goods orders plummet while consumer confidence falls.

Wal Mart and other U.S. retailers report disappointing sales.

Initial jobless claims soar, and continuing claims rises too.

Home prices increasing at slowest rate in 8 years.

U.S. construction spending continues to decline rapidly.

ISM Manufacturing index shows contraction for the first times since April 2003.


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