What a Mixed Bag of Data

by Laura Ehrenberg-Chesler on August 31, 2012

in Economic Indicators,Employment,housing,politics

As we head into the long Labor Day weekend I thought it would be interesting to recap the recent economic data. Much of this data has been negative,

and yet the market has been relatively good.

Consumer Confidence dropped again to a nine-month low of 60.6% in August. The Richmond Fed Manufacturing number contracted for the third straight month, albeit at a slower pace. The “jobs hard to get” response in the Conference Board’s survey did edge down slightly to 40.7% in August, but still remains well above the 20% or lower reading which is common during “good times”, with the unemployment rate still hovering around 8.3%.

The housing market has been one of the bright spots in all of the recent data. New single-home sales climbed 3.6% in July after dropping in June. And, home prices may finally be bottoming nationally.

The implications of this mixed bag of data for the market is hard to read. As we get closer to the election, the market may be a good leading indicator of the expected outcome.



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