Economic Update - August 2010 - The Moon is Shrinking
'The pace of recovery in output and employment has slowed in recent months,' said the Federal Reserve in August. 'Too few jobs, too little wage income and too little consumer spending' was the sentiment in an August Wall Street Journal forecasting survey
Highlights from this month's issue:
- Overview: “The pace of recovery in output and employment has slowed in recent months,” said the Federal Reserve in August. “Too few jobs, too little wage income and too little consumer spending” was the sentiment in an August Wall Street Journal forecasting survey
- Retail: Commerce Department data show that, outside of autos and gasoline, sales remain lackluster
- Motor Vehicles: The sales pace over the last five months has moderately improved
- Consumer Products: Federal Reserve data continue to show that production has slowed in tandem with retail sales
- Aerospace & Defense: Following earlier weakness, A&D production improved in June and July
- Process & Industrial Products: Machinery production has increased for 8 months, likely helped by the gains in corporate spending on equipment
- Lodging: An anomaly in this otherwise-slowing economic recovery. Gains in revenue per available room (revPAR) continue to strengthen according to STR
