ISM Manufacturing: Economy Remains in Teeth of the Recession
ISM Manufacturing: Economy Remains in Teeth of the Recession
December’s ISM manufacturing index came in at 32.4, well within recession territory and consistent with levels of the 1980-82 recession period. Weakness remains in new orders, production and employment. The inventory correction is ongoing. Prices paid fell sharply to 1949 lows and suggests lower inflation ahead.
Manufacturing Weakens […]
Japan Recession Deepening As Industrial Production Sees Record Drop, Jobless Rate Rises
Japan Recession Deepening As Industrial Production Sees Record Drop, Jobless Rate Rises
Japanese economic data points to a deepening recession in the world’s second largest economy. Industrial Production dropped by the most on record in November, household spending shrank for the ninth straight month, and the number of available jobs to seeking applicants […]
Britain’s Recession
Britain’s Recession
U.K. GDP sank 0.6% not annualized last quarter, five times faster than U.S. GDP. Such was the worst outcome in 71 quarters yet will look mild compared to what fourth-quarter and 1Q09 figures are likely to show. British personal consumption (-0.2%) was very resilient in comparison with its U.S. counterpart, but U.K. investment (-2.8%) […]