June macro data is giving a ‘cleaner’ picture of the economic state of our great nation. With seasonal affectations (unusually warm weather and the rebound in auto production) out of the way, June macro data has very much surprised consensus to the downside as BofAML’s economics team notes that 14 of the last 20 June indicators has come in below expectations. Over the next several weeks we will get more ‘hard’ [...]
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By Greg Robb, MarketWatch WASHINGTON (MarketWatch) — Manufacturing activity in the New York region weakened again in September, according to data released Thursday, raising fresh concern over the strength of the factory sector in the third quarter. The Empire State index decreased slightly to negative 8.8 in September from negative 7.7 in August, according to the manufacturing survey released by the New York Federal Reserve. [...] by ZH There may be those among the less than brainwashed lemmingerati out there who have noticed what, as we have pointed out for the past month when reporting on the various manufacturing and regional Fed indices, has been an epic collapse in the appropriate data series. As John Lohman so kindly demonstrates, the two month implosion has been beyond epic, and while certainly the biggest [...] by ZH Full text: “We are revising down our outlook for the annual growth rate of real GDP in Q2 from 3.0% to 2.5%. The main factor behind our revision is weaker output of the motor vehicle sector. Based on industry data we project that real output in this sector will decline at around a 20% annual rate, which would subtract 0.5%-point from GDP growth. From an [...] Businessweek The Obama Administration spent more than $80 billion last year to prop up General Motors and Chrysler in a controversial effort to save millions of American manufacturing jobs. Both car companies have since stabilized, and business is also looking up at Ford Motor (F). Yet as they map out their investment plans in [...] |
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