Monday, September 24, 2012
This latest month's figure is below the commonly accepted recession line of -0.70. Graphs and all at link, but you can find no happiness here. Look at the diffusion - it's broad-based.
The most irritating thing about all this is that the Fed's action will probably make things slightly worse, but it might have had a chance to influence matters positively if they had moved into action six months ago. Even then it would have been a long shot, but now it's just coals of fire.
Grinding to a Halt
The diffusion doesn't look very good. When I have the time I'll pull the data. The combination of the monthly plus the diffusion is pretty bad looking.
It will come back up, but the global situation and the US fiscal situation is such that realistically, it is hard to pull out of this.
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