Housing Impact on GDP
Its apparent from yesteday's Earnings release that the impact of Housing is working its way into the earnings picture. So far, the impact has been very specific, and limited to Retail (Home Depot, Circuit City), a few Transports (Yellow Roadway, UPS), and of course the Home Builders. Thus far, Financials have contained the impact of sub-prime, but are seeing originations and loan volumes fall.
Here is a quick round up of where else Housing is impacting the economy, via RGE:
Gross Domestic Product: First Quarter 2007 (Advance)
Bureau of Economic Analysis, Apr 27, 2007
http://www.bea.gov/newsreleases/national/gdp/2007/pdf/gdp107a.pdfDeclines in Housing and Exports Depress Growth
Dean Baker, Apr 27, 2007
Center for Economic and Policy Research, http://www.cepr.net/index.php?option=com_content&task=view&id=1152&Itemid=1381st Quarter Advance GDP
First Trust Advisors
4/27/2007
http://www.ftportfolios.com/Retail//Research/ViewResearchArticle.aspx?ID=315''Advance'' Report Puts Real GDP Growth at 1.3%
David H. Resler
Nomura Economic Research, Apr 27, 2007
http://investinginbonds.com/assets/files/gdp04_27_2007.pdfSlow GDP Boat to Faster Inflation
Michael Gregory
BMO Capital Markets Economics, , Apr 27, 2007
http://www.bmonesbittburns.com/economics/econofacts/20070427b/econofacts.pdfUS Q1 growth likely to be revised to 0.7%
Already in “growth recession” range, Q2 started worse than Q1.
Nouriel Roubini
RGE, May 10, 2007
http://www.rgemonitor.com/blog/roubini/193796U.S. Economic Growth Is Slowest In 4 Years Amid Housing Slump
Jeff Bater
Wall Street Journal, April 27, 2007
http://online.wsj.com/article/SB117767443639284710.htmlGDP Growth Update
Kash Mansori
The Street Light, April 27, 2007
http://streetlightblog.blogspot.com/2007/04/gdp-growth-update.htmlGDP = 1.3%
Barry Ritholtz,
The Big Picture, April 27, 2007
http://bigpicture.typepad.com/comments/2007/04/gdp_13.html
Wednesday, May 16, 2007 | 11:30 AM | Permalink
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It's apparent to the people who actually read through and interpret data and articles in there own way. A post asks why can't it be said what is really going on with inflation......because as BR knows it is career suicide to go against the normal channels of media and it's spin on any negative news that does'nt support the current administration's agenda.
Whether we like it or not (or want to admit it) our gov't is engaged in one of the largest frauds and financial chicanery that we've ever been witness to. Remember what happned in Hungary last year???
It will most likely never be exposed as the fraud it is however if it were it would make watergate look like a children's picnic.
Remember inflation is not a problem if you do not drive anywhere or eat anything......just ask our gov't they'll tell you.
Sheeple in full effect
Ciao
MS
Posted by: michael Schumacher | May 16, 2007 1:16:06 PM
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