Economic Statistics for 26 Sep 11
Today’s economic statistical releases:
New home sales fell to a 295,000 annual rate, compared to 302,00 in July. This is a nine-month low for new home sales. Of course, without any serious mortgage lending by banks, we can expect home sales to remain depressed.
The Dallas Fed’s Texas Manufacturing Outlook Survey index of general business conditions slipped to -14.4 from last month’s -11.4. The production index rose, however, from 1.1 to 5.9 as factory activity increased.
The Chicago Fed National Activity index fell to minus 0.43 in August from plus 0.02 in July. Employment-related indicators fell to -0.08, and consumption & housing slipped to -0.35.
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Dale Franks
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Gloom and doomer;^)
Geez Dale, if you going to do this almost daily, you need to setup up a suicide watch, too.Â
If you think the current economic stats are depressing, wait for a while. It might get substantially worse. We’ll see what happens when Greece defaults next month, and how that plays out.
This slow pulling off of the Euro bandaid is really annoying. Get it over with and see what happens.
I think that dragging it out reduces the shock value and 1-day sell-off over-reactions. Not that its a trivial event. But it was just Greece, it would be survivable for everyone else.
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The real question is how many after Greece and how quickly.