Friday, September 7, 2007
Looks like the USA has just hit reverse.
Against forecasts for an increase of 110,000 in the payroll numbers, the figures showed there had actually been a decline of 4,000 in August. Economists were alarmed by the figures. Rob Carnell of ING in London described them as "downright awful". "For those wishing to see some evidence of the impact of sub-prime on the broader macro-economy - look no further," he said.