Not pretty, and getting worse.
More Quotes from Ian Shepherdson:
Expectations are a leading indicator and are consistent with modest spending gains. Stronger stocks will push the index up further, and soon. This is a good report.Ian Shepherdson
We doubt that this report unambiguously points to slower growth ahead --but it does mean no rate hike on (Aug.) 22,
Ian Shepherdson
This report is stronger than it looks and is consistent with the industrial recovery gathering pace,
Ian Shepherdson
Overall, this was another awful report, ... but given the size of the inventory overhang in manufacturing and the still-rapid loss pace of job losses it comes as no surprise.
Ian Shepherdson
The chairman will likely tell the House Budget Committee that conditions are set for recovery.
Ian Shepherdson
Mr. Greenspan clearly wants to leave the door open to lower rates, but he was more explicit this time in his acknowledgement that there are risks on the other side.
Ian Shepherdson
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