November 2008 Blog Posts (23)

JDfn Daily Digest - November 5, 2008

The ISM nonmanufacturing index fell to 44.4% from 50.2% in September. The decline was worse than expected. Economists were looking the index to fall to 47.5%. Twelve industries reported decreased activity in October while only four reported gains. Indexes for business activity, new orders and employment fell sharply in the month. The price index also fell sharply.

According to the ADP employment report, companies in the U.S. private sector lost 157,000 jobs in October. The report… Continue

Added by Jack Lott on November 5, 2008 at 10:52am — No Comments

JDfn Daily Digest - November 4, 2008

The Commerce Department reported factory orders fell 2.5% in September, much weaker than the 0.2% fall expected by economists. Orders fell 4.3% in August, the biggest drop in almost two years. Orders for durable goods increased a revised 0.9% in September, up slightly from 0.8% estimated a week ago.

U.S. retail chains may report some of their worst monthly sales results this week as the global financial crisis leaves its mark on ordinary consumers, casting new doubt on holiday season… Continue

Added by Jack Lott on November 4, 2008 at 10:50am — No Comments

JDfn Daily Digest - November 3, 2008

The Institute for Supply Management reported that the nation's manufacturers continued to cut back production sharply in October for the second straight month. The ISM index fell to 38.9% in October from 43.5% in September. This is the lowest level since September 1982. The consensus forecast of estimates was for the index to fall to 41.5% as all regional manufacturing surveys were weak in October.

Construction spending dropped by 0.3 percent in September, less than the 0.8 percent… Continue

Added by Jack Lott on November 3, 2008 at 10:00am — No Comments