US Debt, End of US Recession, Geithner to China
US Debt, End of US Recession, Geithner to China
US debt explosion
GBP traded at its highest level since last November and the AUD and CAD touched new highs for 2009 Wednesday. There are two interesting articles in today’s financial press which help explain why the USD is weakening. The first article appeared in the Financial Times […]
ISM Manufacturing: Recession Persists, GM Shutdowns Ahead
ISM Manufacturing: Recession Persists, GM Shutdowns Ahead
April’s ISM index at 40.1 suggests we have come off the bottom but are still in recession in the second quarter as the manufacturing sector faces the challenges of both cyclical slowdown and secular change (autos). Orders, production and employment components were up but remained weak. Export orders rose. […]
NZ Q4 GDP: Recession Deepens
NZ Q4 GDP: Recession Deepens
Q4 GDP falls 0.9% q/q
Demand weak across the board.Production follows suit.Government, some services and agriculture provide pockets of growth.Economy needs looser - not tighter - monetary conditions.
Commentary
The New Zealand economy contracted in every quarter of 2008, saving the steepest fall for the final quarter. The 0.9% drop in GDP in Q4 […]