Economics Call October 5, 2009. Manufacturing Index Fell from 52.9 to 52.6 –However this is still...

Economics Call

October 5, 2009

• Manufacturing Index Fell from 52.9 to 52.6 – However this is still expanding because it is greater than

50

• ISM non manufacturing was at 50.9 – It was expected to be around 50 – Last month it was 48.4

• 263,000 non-farm payroll job lost, this was an increase of 62,000

• Unemployment rose to 9.8%• Average weekly hours worked fell .1 to 39.8

Economics Data:

• Auto Sales declined slightly in September after cash for clunkers expired

• S&P has fallen for the second week in a row and declined 4.4% from its high

– According to Bill Carter this is very mild, even a 8-10% correction would be a minor correction

• Yield on the 10-year Treasury dropped 30 basis points • Earnings reporting starting this week with Alcoa on Wednesday

– Excepting a 9% drop in the third quarter which is less than the 19% drop in the second quarter

• Dollar Continues to Weaken• Initial Unemployment on Thursday• Trade Numbers on Friday

Economics Data