Tuesday, November 14, 2006
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.