Yesterday’s Economic Data Disappoints

by Laura Ehrenberg-Chesler on April 20, 2012

in Economic Indicators,Employment,housing,manufacturing

Following the good performance of the equity markets in the first quarter of this year, the second quarter has gotten off to a bit of a rocky start. It is causing some portfolio managers to have “deja vu all over again”. In 2010 and 2011 the first quarter equity performance was good, followed by second and third quarters that were volatile on the downside.

Yesterday the economic data was disappointing, and called into question the strength of the recovery once again. Existing home sales fell, jobless claims fell less than expected, and the Philly Fed noted a deceleration in manufacturing in its region.

We continue to watch the data as it comes out to see whether some of the positives we have blogged about recently will be overshadowed by the recent spate of disappointing data.

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