Archive for the ‘Traction’ tag
Chicago Business Barometer Bounces into Growth, Prices at 28-Year High
The ISM-Chicago business barometer bounced into
growth mode in July following five months of slowdown. The growth was led
by advances in production and new orders, even as prices hit a 28-year
high and employment remained in contraction for the eighth straight
month.
Bernanke says U.S. Economy is Facing Numerous Challenges
Appearing before the Senate Banking Committee at the
semiannual Humphrey-Hawkins testimony on Tuesday,
Federal Reserve Chairman Ben Bernanke said the economy is facing numerous
difficulties.
“The U.S. economy and financial system have confronted some
significant challenges thus far in 2008.The contraction in housing
activity that began in 2006 and the associated deterioration in mortgage
markets that became…
Tuesday Events: U.S. Retail Sales, U.S. Construction Spending, US ISM Index
Today’s key economic release will be the ISM manufacturing index for
June where economists expect a drop to 48.5 from May’s 49.6 reading.
Canadian markets will be closed to observe Canada Day.
At 7:45 a.m. EDT, ICSC will release its retail sales
figures for the week ending June 28. In the previous week, sales
advanced by 2.2% year-over-year.
At 10 a.m. EDT, the U.S. Commerce Department will release
construction spending for May. Economists expected a
decline of 0.6% month-over-month following April’s 0.4% contraction…