Afternoon JT,.Re:. Fundamentals showing weary signs of cracking with NAPM crawling along for several months, weakening job growth as evidenced by JNJ, BA, other majors etc, hourly earnings stuck in mud, and consumer confidence waning.
Thought I'd pipe in to provide some relief for your worries. <gg>
Although the manufacturing sector is a concern, it actually only contributes approximately 1.1% current to total GDP.
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Also, personal income is rising as shown on the linked chart below, especially noticeable if you click on the 3 year chart.
dismal.com
Income vs. consumption overview
Additionally, the low fuel costs and interest rates provide the same increased spending benefits as a tax cut.
Finally, consumer confidence is still relatively high as shown on the attached chart. I don't really see this sagging while unemployment remains in the 4.4 - 4.6% range, and inflation stays tame, and energy costs and interest rates remain low.
dismal.com
Consumer Confidence
Hope this helps relieve some of your anxiety about the health of the economy. <vbg>
Regards,
Lee
Edit - Almost forgot, some companies have warned about UPSIDE surprises, notably INTC! I know we only hear about the sad stories but there are plenty of happy stories too! |
