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Weekly Economic and Financial Commentary : 02/12/2011
Weekly Economic and Financial Commentary : 02/12/2011
U.S. Review
Moderate Improvement in Economic Data
The November employment report showed a big drop in the unemployment rate. However, the overall pace of job growth remains constrained.
Housing market data this week indicated that new home sales rose modestly in October, while home prices continued their downward trajectory.
The latest read on manufacturing sentiment from the ISM-manufacturing survey indicated that output continued to expand at a moderate pace despite the ongoing European debt crisis.
Data Supports Stronger Growth in Q4
This week's data continued to reinforce our view for stronger fourth-quarter economic growth. The housing market data showed sales and new home construction have bottomed, while the ISM- ...
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