{"id":191974,"date":"2009-05-29T17:15:00","date_gmt":"2009-05-29T22:15:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/05\/29\/economics-update-210\/"},"modified":"2009-05-29T17:15:00","modified_gmt":"2009-05-29T22:15:00","slug":"economics-update-210","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/05\/29\/economics-update-210\/","title":{"rendered":"Economics Update"},"content":{"rendered":"<div style=\"border: 1px solid black; margin: 0px 10px; width: 410px; float: right; text-align: center;\"><img decoding=\"async\" src=\"http:\/\/img529.imageshack.us\/img529\/7291\/redstates4177297.jpg\" bordercolor=\"white\" border=\"0\" width=\"400\" \/><br \/><span style=\"font-style: italic;\">We&#8217;re All Red States Now<br \/>(<a href=\"http:\/\/www.calculatedriskblog.com\/2009\/05\/philly-fed-state-coincident-indexes.html\">Philly Fed Index<\/a>, Red is Contraction)<\/span><\/div>\n<p>The revised numbers for the first quarter GDP are out now, and <a href=\"http:\/\/www.cnbc.com\/\/id\/30996435\">it&#8217;s an upward revision for once<\/a>, from a fall of 6.1% to a fall of only 5.7%.<\/p>\n<p>Of course, -5.7% is still pretty ugly, and the fact that the <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/05\/ata-truck-tonnage-index-declines-22.html\">ATA Truck Tonnage Index fell 2.2% in April<\/a>, and that the <a href=\"http:\/\/www.calculatedriskblog.com\/2009\/05\/philly-fed-state-coincident-indexes.html\">Philly Fed State index is not showing expansion in any states<\/a>, seems to indicate to me that we are still talking about a change in the 2<sup>nd<\/sup> derivative, i.e. not getting worst <span style=\"font-weight: bold;\">faster<\/span>, than a rebound.<\/p>\n<p>Still, there was still some good news, with <a href=\"http:\/\/www.cnbc.com\/id\/30998274\">the Consumer Sentiment Index reaching an 8 month high<\/a>, 68.7, and <a href=\"http:\/\/www.cnbc.com\/\/id\/30990290\">Japan&#8217;s factory output unexpectedly rose last month<\/a>.<\/p>\n<p>Still, with <a href=\"http:\/\/www.cnbc.com\/\/id\/30994999\">Euro zone inflation hitting 0% this month<\/a>, the specter of deflation is very real.<\/p>\n<p>Meanwhile, the less concern about the economy has <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=newsarchive&amp;sid=awHffdi6b.Qg\">pushed the dollar down<\/a>, while <a href=\"http:\/\/money.cnn.com\/2009\/05\/29\/markets\/oil.reut\/index.htm\">oil price increases<\/a> have <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601110&amp;sid=aFP9NPbXu5xM\">pushed the Canadian dollar up by 9.6% in May<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We&#8217;re All Red States Now(Philly Fed Index, Red is Contraction) The revised numbers for the first quarter GDP are out now, and it&#8217;s an upward revision for once, from a fall of 6.1% to a fall of only 5.7%. Of course, -5.7% is still pretty ugly, and the fact that the ATA Truck Tonnage Index &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,984,1188,1089],"tags":[],"class_list":["post-191974","post","type-post","status-publish","format-standard","hentry","category-economy","category-europe","category-japan","category-recession"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191974"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=191974"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/191974\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=191974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=191974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=191974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}