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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (31734)	6/8/2005 3:27:27 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

five and dime under 22 bps Mish

To: orkrious who wrote (31734)	6/8/2005 3:34:29 PM
From: mishedlo	Respond to of 116555

2:30PM: Market continues to deteriorate following the premature release of the White House's economic report... Within the last 30 minutes, reports have surfaced that show the White House has lowered its 2005 real GDP forecast to 3.4%, from 3.5% six months ago, and estimates nonfarm payroll growth for 2005 will average 178K a month from 175K forecasted last month... The White House also believes that the 10-year note will average 4.3% for 2005... finance.yahoo.com --------------- cnn.com WASHINGTON (Reuters) - The White House Wednesday cut its forecast for 2005 economic growth slightly but said the U.S. economy was still expanding at a healthy and sustainable pace. In its mid-year economic forecast, the White House predicted fourth-quarter-over-fourth-quarter growth of 3.4 percent, compared to a December forecast that pegged growth for the same period at 3.5 percent. "The updated forecast remains largely the same as what we projected six months ago," said Harvey Rosen, chairman of the White House Council of Economic Advisers. "The economic expansion is continuing." -------------