U.S. Economy: Leading Indicators Drop, Manufacturing Weakens

[swag]

Source: Bloomberg

March 20 (Bloomberg) -- The U.S. economy is at greater risk of a recession, according to an index of leading indicators, and manufacturing in the Philadelphia region contracted for a fourth consecutive month.

The Conference Board's leading-indicator measure declined 0.3 percent in February, the fifth straight drop, the New York- based research group said today. The last two times the index dropped for as many months correlated with a shrinking economy. Meanwhile, the Philadelphia Federal Reserve said its factory index was at minus 17.4 in March, compared with minus 24 the previous month.

``It looks like we are in a recession,'' Bruce Kasman, chief economist at JPMorgan Chase & Co. in New York, said in a Bloomberg Television interview. ``The economy was probably stagnant in the first quarter and it looks like things got worse at the end of the quarter.''

The biggest housing slump in a generation, compounded by a credit freeze and mounting financial losses, is spilling over to other industries and undermining the six-year expansion. The Fed, noting the outlook had ``weakened further,'' cut interest rates this week and said it would act ``as needed'' to promote growth.



Read more: http://www.bloomberg.com/apps/news?pid=20601068&sid=aVHdHHHm8APo&refer=home

[hatrack]

1. And the Dow soars! USA!! USA!! USA!!

:wtf:

[Zynx]

5. The Dow goes down on good data some days. Both of these data points were

anticipated. Recession has practically been priced in already with the exception of raw materials stocks, but that will come around too.

[Dr.Phool]

2. I love it. "Risk of recession".

Stick your fucking head out of the window of your limo! We've been in a recession for a while now, dumbfuck.

[Pharaoh]

3. Yeah!! ...........Lol

that grabbed me too..................

We are on the fucking brink and they are saying " risk of Recession" !!

Unbelievable Morons!!!

[Javaman]

4. I honestly believe they won't proclaim an official recession until

all their rich buddies have cashed out.

[jayfish]

6. Reports Suggest Economy Weakening More

Source: AP via Excite News

NEW YORK (AP) - A rise in jobless claims and a drop in a key forecasting gauge provided the latest evidence that the U.S. economy is faltering and may be slipping into recession.

The Conference Board, a business-backed research group, said Thursday that its index of leading economic indicators fell in February for the fifth consecutive month. The index, which is designed to forecast where the nation's economy is headed in the next three to six months, dipped 0.3 percent to 135.0 in February after slumping 0.4 percent the month before.

In Washington, meanwhile, the Labor Department said that applications for unemployment benefits totaled 378,000 last week. That was an increase of 22,000 from the previous week and the highest level in nearly two months.

The four-week average for new claims rose to 365,250, which was the highest level since a flood of claims caused by the 2005 Gulf Coast hurricanes.

Read more: http://apnews.excite.com/article/20080320/D8VHANMG2.html

[happygoluckytoyou]

7. IN A RELATED STORY----->

PRESIDENT BUSH HAS NOTED THAT WE "MAY BE AT A SLIGHTLY LESS THAN HAPPY ECONOMY" WHILE AVOIDING THE WORD RECESSION

....HE HAS ALSO MENTIONED THAT....

SADDAM MAY NOT ACTUALLY BE OSAMA

KENNY BOY LAY MAY INDEED BE DEAD

THERE MAY NOT HAVE BEEN ANY WMD

.......................to which the kindergarden class he was speaking to said....."doh!"

[fascisthunter]

8. Nah... No Way.. The Dow was Up Today

:sarcasm:


Didn't ya see the dollar gain three cents.... um, after the fed put America into further debt.

[dysfunctional press]

9. electric cars, solar panels/windmills; repaired roads and universal healthcare.

to be made in america by mandate- subsidized by the government if necessary. a crash(no pun intended) program to replace a certain percentage of cars each year, and to convert homes to renewables...create new industry/infrastructure and you create new jobs/markets. take the healthcare cost burden away from employers, while also giving employees more freedom to seek new opportunities, since they won't be tied to their job for healthcare benefits.

also- change the focus of the drug war by decriminalizing pot, and also allowing industrial hemp- which can be used for a wide array of items-from biofuel to cloth to paper and beyond...and is another example of an area where new markets/jobs can be created.

instead of waging illegal and outrageously expensive wars, bailing out wall st. gambling addicts, and maintaining hundreds upon hundreds of unwanted and unneeded overseas military installations- we as taxpayers should be investing in our own country, our own people, and our own future.

[Supersedeas]

10. nothing to see here -- feed them more news about JLo and Heather Mills