Tuesday, Nov 14, 2006

US Economy hit by housing slowdown

FT.COM ( Subscription): US Economy hit by housing slowdown

Housing slowdown is taking the blame for sluggish retailing. Spending is overall weaker than expected.
Home Depot ( DIY) and DR Horton (housebuilder) show "pain mounting in sectors most directly exposed to the housing slowdown" H Depot say slowdown "faster and deeper" than expeceted. DRHorton reported a rise in cancellations and that they believe the downturn has a long way to go!!
But the Investment analysts are still living in cloud cookoo land and think there will be a merry christmas ( hmmmm; this is PC America... shouldn't that read "holidays"?).
Japan is doing great though.

Posted by bajista @ 07:55 PM (396 views)
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1. paul said...

Yet again, we see analysts being consistently wrong, over-optimistically contradicting anecdotal evidence.

This is also in full effect in the UK according to the MORI poll, with the majority of economists believing house prices are overvalued, but very few believing prices will "correct".

Like forecasting rain but refusing to acknowledge the need for an umbrella.

Wednesday, November 15, 2006 09:19AM Report Comment
 

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