From Positive Economic News:
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1. Toyota raised its world 2009/10 sales forecast by 3 percent citing a recovery in demand for autos.
2. September consumer confidence is now at its highest level since January of 2008!
3. Chinese industrial output and other far east economic data surprised to the upside in August.
From Carpe Diem:
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1. California and Florida Housing markets continue to improve. California's home sales increase for the 14th straight month and Florida's string of sales improvements as now stretched to a full dozen.
2. Back in March, Intrade odds had the possibility of Q3 growth at 25%. Now those odds are a 95%
3. Nationally, the inventory of homes on the market has now fallen to April 2007 levels.
From our Beach Pundit:
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1. Current mortgage rates are now the deal of a lifetime... (both conventional and jumbo)
2. In aggregate, US financial burdens are down.
3. The pundit shows three charts providing a distinct turn for the better in the housing market.
Q3 draws to a close this week. And our favorite bloggers will likely continue to diet on a healthy supply of good news reports.
Posts
GNE,
ReplyDeleteAre you concerned that consumer confidence, as measured by the conference board, is declining given the lousy job market outlook?
GNE,
ReplyDeleteThe market seems to be ignoring good or relatively positive news this week. Do you think this is a sign of major correction coming based on general pessism about the recovery?
Anonymous1,
ReplyDeleteIn general the job market is now improving. It is probably time for me to do another posting about how many openings are starting to get posted to the job boards of corporations. I rely more on the Rasmussen Consumer Confidence measure. It gets updated every night.
Anonymous2,
The market always seems to be a bit more pessimistic in the fall... I always chalk that up to the end of the summer blues. I'll be posting a summary over the weekend of all the positives that have been released this week... the most notable the revised GDP estimate for Q2 making it pretty clear that we made the right technical call on the turnaround... June... and that Q3 will report in much stronger than all the lackluster, bumpy predictions for the July/Sept Quarter.
GNE
Eldon,
ReplyDeleteWhat do you make of the arguments that cash for clunkers and the stimulus will result in positive growth for Q3 and Q4 but with those programs winding down (as well as the $8K home buyer credit), we'll be right back in a recession because of growing deficits, taxes and reduced counsumer spending. Much like what happened with September auto sales.
Anonymous,
ReplyDeleteDon't forget the 700B stimulus program... those dollars are just now finding their way into all corners of the economy. It's clear that we are now solidly on the right track to recovery.
GNE
its good to know that the job Marketing is now improving.Thanks forr great Reading,we buy goldbullion in a recession.
ReplyDelete