[arete]

There is more bad news on the way tomorrow judging from the gold market.

Jobless Claims Rise in Latest Week

Richard W.

[arete]

July ISM sinks to 50.5%, showing slow growth By Rex Nutting

The nation's manufacturing sector was growing for the sixth straight month in July, but at a much slower pace than in June, according to the Institute for Supply Management. The ISM index fell to 50.5% from 56.2% in June. New orders dropped to 50.4% from 60.8%. Production sank to 55.7% from 61.4%. Employment eased to 45.0% from 49.7. ISM said the drop in new orders could be a pause in inventory replenishment.

Richard W.

[arete]

Like I said, the bad news just keeps rolling in:

Construction spending fell 2.2 percent in June, instead of the 0.2 percent rise economists expected. The May figure was revised to a 2 percent drop from the originally reported 0.7 percent dip.

Complete text of article here:

Weak and weaker

All that pro-duct-iv-ity just doesn't seem to be helping all that much.

Richard W.