Philadelphia Fed Manufacturing Index Decreased to -5.8 in MayBloombergThe Federal Reserve Bank of Philadelphia's general economic index decreased to minus 5.8 in May from 8.5. Economists forecast the gauge would rise to 10, according to the median …
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Greek euro exit looms closer as banks crumble – Evans-Pritchard- Telegraph
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Economists warned that the Greek financial system could crumble within weeks or days unless the European Central Bank steps up support. President Karolos Papoulias told party leaders that banks had lost €700m in withdrawals on Monday alone as citizens rush to pre-empt capital controls and a much-feared return to the Drachma. He cited central bank…
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Great Timing! Investors Dumped Bearish Bets Most Since 2008 – Bloomberg
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As individuals bail out of U.S. stocks at the fastest rate in three decades, professional speculators have cut bearish bets by the most since 2008. Money managers are net short 19,375 contracts on the Standard & Poor’s 500 Index, down 82 percent from a four-year high in September even after the figure jumped from 3,584…
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Greece, euro exit and the drummer in the band | Reuters
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May 14 (Reuters) – …while it may have become commonplace to discuss a Greek exit (or Grexit as many economists call it), the practicalities and implications of it are far more complicated and daunting than many outside observers acknowledge. It’s not even clear Greece can leave the common currency. The EU’s Lisbon Treaty doesn’t make…
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As European Austerity Ends, So Could the Euro – Bloomberg
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The euro currency is a malady that condemns at least a generation of Greeks, Italians, Spaniards, Portuguese and Irish to the economic infirmary. In these nations, unemployment rates are now at their highest levels in recent decades, and there are few prospects for recovery in sight. The economists and politicians who created the system still…
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Putting Our Slow Jobs Recovery Into Perspective – Businessweek
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Disappointing, but not shocking. The government’s report Friday that the economy created fewer jobs than expected in April—115,000—showed an unwelcome deceleration of America’s job-creating machine. Economists surveyed by Bloomberg News had a median forecast of 160,000 jobs created. In the big picture, though, the nearly 3-year-old expansion is proceeding at the same pace as the…
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U.S. Added Only 115,000 Jobs in April – Rate Is 8.1% – NYTimes.com
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The United States had another month of disappointing job growth in April, the Labor Department said Friday. The nation’s employers added 115,000 positions on net, after adding 154,000 in March. April’s job growth was less than what economists had been predicting. The unemployment rate ticked down to 8.1 percent in April, from 8.2 percent, partly…
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Lowered Expectations on the Jobs Report – NYTimes.com
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by FLOYD NORRIS What a difference one bad month – and one bad report – can make in expectations. A month ago, after three strong jobs reports, the median forecast of economists polled by Bloomberg was for a gain of 205,000 jobs in March. The low estimate was for 175,000 jobs, only 30,000 less. At…
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AP survey: Steady job gains to sustain US recovery – STLtoday.com
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TIMEAP survey: Steady job gains to sustain US recoverySTLtoday.comAP survey: Steady job gains to sustain US recovery AP | Posted: Thursday, May 3, 2012 2:34 am | ( Loading… ) comments. FILE – In a Friday, April 20, 2012 file photo, Tom Holloway looks…
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ECB May Soften Stance as Draghi’s Recovery Falters – BusinessWeek
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The GuardianECB May Soften Stance as Draghi's Recovery FaltersBusinessWeekBy Jeff Black and Jana Randow on May 02, 2012 Since the European Central Bank President predicted an economic recovery at the start of the year, data have increasingly pointe…
