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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