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Recession scorecard …

September 29, 2010 Leave a comment Go to comments

Comstock Partners compares the economy after the National Bureau of Economic Research called the end of the Great Recession to that of previous recoveries. The upshot to their survey is stark: THERE IS NO RECOVERY!

1)  GDP was up 5.3% and 5.7% at this point in the last two cycles, and is now down 1.3%

2)  New home sales were down 8% and up 31%; now down 42%.

3)  Industrial production was up 3% and 1%; now down 7%.

4)  Retail sales were up 9% and 12%; now down 4%.

5)  Payroll employment was flat and down 2%; now down 5%.

6)  Personal income was up 11% and 7%; now up 2%.

7)  New orders for durable goods were up 5% and 6%; now down 22%.

8)  Initial weekly unemployment claims were down 5% and 9%; now up 34%.

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