Economy Serves Up More Warmed-Over Gruel
Although this week's data shattered the mirage of an impending economic boom, neither does it herald the start of a new economic slump--just more of the same slow growth.
Although this week's data shattered the mirage of an impending economic boom, neither does it herald the start of a new economic slump--just more of the same slow growth.
For a second week in a row, the U.S. economic data was nothing to write home about, and for a change the markets acted accordingly and fell sharply.
The week started with a weak report on manufacturing from the ISM, a soft ADP payroll report in the middle of the week, rising initial unemployment claims on Thursday, capped off by a seemingly disappointing employment report on Friday.
Robert Johnson, CFA does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.