Tuesday, December 4, 2012

Morning Journal--The problem with manufacturing


Economics

   This Week’s Data

            US November PMI came in at 52.8 versus expectations of 52.1 and October’s reading of 51.0.

            The November Institute for Supply Management’s manufacturing index was reported at 49.5 versus estimates of 51.7 and October recording of 51.7.

            October construction spending rose 1.4% versus forecasts of a 0.4% increase. 

                November auto sales were up about 6%.

   Other

            The problem with manufacturing (medium):

            Is the global commodity cycle dead? (medium):

            Monetary policy update (medium):

            JP Morgan lowers US fourth quarter GDP estimate (medium):
            http://www.zerohedge.com/news/2012-12-03/jpm-cuts-q4-gdp-forecast-15-now-sees-iphone-sales-contribute-33-growth-upside

            Weekly gasoline update (short):

Politics

  Domestic

The White House response to capping deductions versus raising marginal rates (medium):
http://www.whitehouse.gov/blog/2012/11/29/limiting-tax-deductions-reality-math

            Forget ‘fair’, let’s talk about stupid (medium):

            It appears that there is incestuous behavior in other government/industry nexus besides Wall Street/the Fed (medium):

            The consequences of political conceit (short):

            Obama is not ‘spreading the wealth’ (short):


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