GDP, Philly Fed, Retail, Trannies

Thursday, December 21, 2006 | 02:39 PM

A quick review of some recent data points:

• Major retailers have dissappointed, either in revs, profits or forecasts: Wal-mart, Best Buy, Circuit City, etc.

• Transports, including FedEx, Yellow RoadWay, and Landstar, have all warned of reduced tonnage volume, profit pressure, and poor outlook.

• Dr. Copper, the metal with the PHD in economics, is now at 6 month lows. 

December Philly Fed survey consensus was +4.0, down from from 5.1 in November. It came in at a negative -4.3 (lowest since Apr '03's -6.8) New orders negative for a second month in a row, Backlogs plummeted;

• Economic growth in the U.S. slowed in the third quarter to a 2% annual rate, dragged down by the biggest decline in home building in 15 years.

• NAHB's index of builder confidence for sales of new, single-family homes slipped in December to near its lowest level in 15 years; The large inventory of unsold homes has not been reduced.

• New Home Building Permits, which foreshadow future activity, fell 3% in November from October and were 31.3% lower than a year earlier.

Is this what a soft landing looks like? (We think not)

The slow motion slow down continues . . .


UPDATE: December 23, 2006, 11:17am

Hey, wontcha look at that : Nouriel Roubini offered up a similar list:

Hard Landing and Soft Landing News of the Week   

Thursday, December 21, 2006 | 02:39 PM | Permalink | Comments (42) | TrackBack (2)
de.li.cious add to de.li.cious | digg digg this! | technorati add to technorati | email email this post

bn-image

TrackBack

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c52a953ef00d8346268c569e2

Listed below are links to weblogs that reference GDP, Philly Fed, Retail, Trannies:

» RIMM Shot! from The Learning Curve
Barry Ritholz, dedicatee of the 2007 Stock Trader's Almanac, on recent economic data points, asks "Is this what a soft landing looks like? (We think not)." Maybe it does, BR. A 2% GDP in the rear-view mirror is slower than we'd like, but... [Read More]

Tracked on Dec 21, 2006 7:00:19 PM

» Economic Data Points and Interpretation from A Dash of Insight
The issue facing investment managers is whether the economy is hitting what Dallas Fed President Richard Fisher calls cruising altitude and speed and we call The Glide Path (negatively cited by many as a soft landing) or whether there is [Read More]

Tracked on Dec 22, 2006 1:25:49 AM

Comments

After reading this I expect the market to surge ahead!!

Posted by: Mike M | Dec 21, 2006 2:52:43 PM

The comments to this entry are closed.



Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      

Archives

Complete Archives List

Blogroll

Blogroll

Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:


Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites

FeedBurner


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo

Disclaimer

Disclaimer

Odds & Ends

Site by Moxie Design Studios™

FeedBurner