U.S. economy grows at a better than first estimated 2.5% in the third quarter of 2010
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The combination of weaker than desired growth and signs of improvement in consumer spending are likely to keep the Fed cautious and lead to a very carefully staged month-to-month program of quantitative easing
Durables disappoint but orders backlog builds so not a big deal–yet
The headline number for durable orders (durable goods are things that last a while such as airplanes, trucks, and production equipment) for September released today showed a big jump to 3.3% growth. But the headline number isn’t as important as the 0.8% drop in durable orders minus transportation. Orders for nondefense capital goods, the stuff that companies buy so they can produce more stuff, fell by 0.6%.
Economists are looking for good news this week on GDP and business investment
Positive numbers from GDP and durables would be a good reason for the current rally to continue into the fourth quarter of 2010.
IMF economic projections point to a very rocky 2011 for developed economies including the U.S.
To subscribe to JAM you need to fill in some details below including, ahem, some info on how you'll pay us. A subscription is $199 (although if you're subscribing with one of our special offers it will be lower) for a year for ongoing and continuing access to the...Better than expected ISM numbers extend today’s upward move
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U.S. businesses keep investing as if there’s no worry of a double dip
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Why have stocks rallied so strongly in September? I don’t think it’s got anything to do with currently observable improvement in the economy. I think what we’re seeing is investors—mostly hedge funds—who had bet that the economy was going to sour reversing that bet to get at least neutral on the economy’s prospects over the next six months.
We all tend to look first for fundamental reasons for
The longest recession since WWII is over–in fact it ended in June 2009, the official recession scorekeeper says
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