Traders Community : News > Economy News http://www.traderscommunity.com/ Traders Community where you will find one of the biggest and best collections of trading information. en-gb The information contained in this website is for general information purposes only. The information is provided by Traders Community and whilst we endeavor to keep the information up-to-date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.Read full disclaimer: Website disclaimer info@nospam.com (Admin) info@nospam.com (Admin) Wed, 08 Sep 2010 16:41:38 -0700 Wed, 08 Sep 2010 16:41:38 -0700 http://backend.userland.com/rss e107 (http://e107.org) 60 Traders Community : News > Economy News http://traderscommunity.com/images/web_logo88a.gif http://www.traderscommunity.com/ 88 31 Traders Community where you will find one of the biggest and best collections of trading information. U.S. Growth Revised Down For Second Quarter http://traderscommunity.com/news.php?item.34786.10
Thr revision was 0.8% lower than the last estimate. We anticipate when the final revision comes in it will be stradding 1% growth. Importantly this is a stimulus ladden Q2. Negative Q3 growth is the overriding issue.

Personal Consumption: Q/Q 2.0% versus Expected 1.6% (Previous 1.6%)
Core PCE 1.1% versus estimate of 1.1% (Previous 1.1%)


S&P futures popped 6 handles on the news and oil 60 cents. On the real positive beta end AUD/JPY popped 70 pips. Who said this market wasn't tightly wound?]]> billyaustindillon@nospam.com (billyaustindill) Fri, 27 Aug 2010 05:59:15 -0700 http://traderscommunity.com/news.php?item.34786.10 U.S. Trade Deficit Surges on Chinese Consumer Imports http://traderscommunity.com/news.php?item.34777.10
Strengthening domestic demand led to imports of goods and services being up 3 percent to $200.3 billion in June. Consumer goods imports were at a record $43.1 billion. Imports of non-petroleum goods also surged to be at the highest since August 2008.

For those watching the Chinese economy and potential bubble they would have been hearted to see the U.S trade deficit with China widen to $26.2 billion. This was the highest since October 2008. However not so rosy for the U.S. as American exports to China fell marginally.

The weak export numbers will likely see Q2 GDP estimates revised lower from around 2.4% to under 1.5%. The slowing of exports signals a spluttering U.S. recovery.
]]> billyaustindillon@nospam.com (billyaustindill) Wed, 11 Aug 2010 05:32:55 -0700 http://traderscommunity.com/news.php?item.34777.10 American Consumer Spending and Incomes Remain Flat in June, American Savings Rise http://traderscommunity.com/news.php?item.34757.10
May's spending had been previously reported as 0.2 percent increase. The Commerce Department downwardly revised 0.1 percent in May and said spending was unchanged in June.

Austerity habits were highlighted as American personal savings reached their highest level in a year.

It was the first time since September that incomes did not riser. The expected U.S. income was a 0.2 percent increase in June from the previously reported 0.4 percent May rise. Friday's U.S. GDP report showed weak consumer spending contributed to a slower 2.4 percent GDP in Q2. This was down from a 3.7 GDP percent rate in Q1 2010.

The economy is trying to emerge from the longest recession since the great depression of the 1930s. The number shouldn't surprise with the high unemployment rate and absent job growth in the U.S.]]> billyaustindillon@nospam.com (billyaustindill) Tue, 03 Aug 2010 05:43:41 -0700 http://traderscommunity.com/news.php?item.34757.10 Weak Durable Goods Double Dip Recession Concern http://traderscommunity.com/news.php?item.34748.10
The U.S. Commerce Department announced June durable goods orders fell 1.0 percent. This was after they a revised 0.8 percent fall for May from a previously reported 0.6 percent decrease.

Reuters forecasts indicated durable goods orders were expected to be up 1.0 percent in June.

'Caution should always be applied to the Durable goods report it is notorious for large monthly swings. There tends to be too much weight put on certain components, which don’t always materialize. Case in point commercial aircraft orders were expected strong, they were not and the result is negative.

Highlights]]> melanie@nospam.com (traders) Wed, 28 Jul 2010 06:28:49 -0700 http://traderscommunity.com/news.php?item.34748.10 Dec US housing starts seen up, contained by weather http://traderscommunity.com/news.php?item.34705.10
* WHEN: Wednesday, Jan. 20, 8:30 a.m. (1330 GMT)

REUTERS FORECAST:

* The median forecast is for a rise of about 1 percent in U.S. housing starts to 580,000 annual units in December. Forecasts from 72 economists ranged from 490,000 to 630,000 annual units.

* The median forecast is for a rise of about 0.2 percent for building permits to 590,000 annual units in December. Estimates from 51 economists ranged from 540,000 to 600,000 annual units.

FACTORS TO WATCH

Home building and permits to build houses likely rose slightly in December but were constrained by unusually cold winter weather.]]> melanie@nospam.com (traders) Tue, 19 Jan 2010 13:01:06 -0800 http://traderscommunity.com/news.php?item.34705.10 What matters most in the next US budget? http://traderscommunity.com/news.php?item.34700.10
Estimates for the U.S. debt and budget deficit will be under particular scrutiny. The following looks at why these numbers matter, and how they stack up against other countries:

IS A BUDGET DEFICIT ALWAYS BAD?

Living beyond your means is not good for households and not supposed to be good for countries either, but governments rarely manage to actually balance their budgets. The United States has only posted a budget surplus eight times since World War Two, most recently in 1999 and 2000. The federal deficit soared to a $1.4 trillion, or 11.2 percent of GDP, in fiscal 2009, from 3.2 percent in 2008, as the recession hit tax revenues and emergency government spending surged.

However, running a big deficit during tough economic times to boost growth and jobs might make sense if it meant more prosperity -- and revenue from taxes -- in the future. This was the argument employed by Obama when he signed a $787 billion emergency stimulus package in February 2009, which his White House says stopped the recession from getting much worse.]]> melanie@nospam.com (traders) Tue, 19 Jan 2010 12:46:07 -0800 http://traderscommunity.com/news.php?item.34700.10 Bank of Canada seen holding rates, tweaking outlook http://traderscommunity.com/news.php?item.34670.10 WHAT: Bank of Canada interest rate announcement; Monetary Policy Report (MPR)

WHEN: Tuesday, Jan. 19 at 9 a.m. (1400 GMT) for rates

Thursday, Jan. 21 at 10:30 a.m. (1530 GMT) for MPR

REUTERS FORECAST: All of the 11 primary dealers surveyed on Thursday forecast the Bank of Canada would stand pat on rates on Tuesday and most expect it to maintain its conditional commitment to keep the key overnight rate at its current 0.25 percent until the end of the second quarter. All see a rate hike at some point this year.

They put the median odds of the central bank intervening in currency markets over the next 12 months at 5 percent.

FACTORS TO WATCH:]]> melanie@nospam.com (traders) Sun, 17 Jan 2010 19:07:16 -0800 http://traderscommunity.com/news.php?item.34670.10 U.S. industrial output rises while inflation remains subdued http://traderscommunity.com/news.php?item.34635.10
But even as Friday's data showed the recovery from the worst downturn since the 1930s was gaining traction, consumers remained cautious about the economy's prospects in the face of stubbornly high unemployment.

The Reuters/University of Michigan Surveys of Consumers' preliminary index of sentiment for January inched up to 72.8, from 72.5 in December. The reading was the highest in four months, but it fell short of market expectations.

'It is still reflecting improving conditions. The question remains how will this trend continue and to what degree can we expect it to translate into higher sales, higher consumer spending,' said Bill Schultz, chief investment officer at McQueen, Ball&Associates in Bethlehem, Pennsylvania.

While the economic recovery that started in the third quarter of 2009 probably gathered steam in the October-December period, there are concerns it could sputter later this year because consumers are not well positioned to take over the baton from the government.]]> melanie@nospam.com (traders) Fri, 15 Jan 2010 11:23:12 -0800 http://traderscommunity.com/news.php?item.34635.10 CBO says US jobless rate to stay above 8 pct until 2012 http://traderscommunity.com/news.php?item.34607.10
The estimate is likely to give increased urgency to Democratic lawmakers' efforts to create jobs before they face voters in November. The House of Representatives passed a $155 billion jobs bill in December and the Senate is expected to act in coming weeks.

Speaking to House Democrats at a conference on job creation, President Barack Obama vowed to do more to help Americans who are still struggling.

'We are going to have sustained and relentless focus over the next several months on accelerating the pace of job creation,' Obama said.

CBO's estimate shows unemployment is likely to remain high for several years as the country gradually recovers from the worst downturn since the 1930s. The unemployment rate stood at 4.9 percent before the recession took hold in December 2007.]]> melanie@nospam.com (traders) Thu, 14 Jan 2010 15:29:07 -0800 http://traderscommunity.com/news.php?item.34607.10