From Haver.com:
Michigan Consumer Sentiment Down Yet Again
April 11, 2008
By Tom Moeller
- The preliminary reading of April consumer sentiment from the University of Michigan fell another 9.1% m/m to 63.2. Consensus expectations had been for a lesser decline to 69.0. The decline dropped sentiment to near its lowest level since 1982.
New bankruptcies as consumer sentiment deteriorates.
Another interesting paper presented at the Society for Nonlinear Dynamics and Econometrics Symposium that I attended last week was by
Anton Nakov of the Bank of Spain and Andrea Pescatori of the Federal Reserve Bank of Cleveland on the role that changes in energy markets may have played in the reduction in GDP and inflation volatility observed since 1984.
This is the second of two posts (first can be found here) based on the Craig Hiemstra Memorial Lecture that I’ll be giving in San Francisco on Friday. There I’ll be discussing some ongoing research I’ve been doing with Mike Owyang of the Federal Reserve Bank of St. Louis on regional propagation of business cycles.
And a bit on the IMF’s revised forecast for the US.
From Reuters, “U.S.’s Paulson praises China on currency progress”:
Automobile sales do not bode well for first-quarter GDP.
I’ve been invited to give the keynote lecture at the Society for Nonlinear Dynamics and Econometrics Annual Symposium next week at the Federal Reserve Bank of San Francisco. I plan on presenting results of some ongoing research with Mike Owyang of the Federal Reserve Bank of St. Louis on regional propagation of business cycles. This is the first of two posts that describe some of our findings about how recessions differ and seem to propagate across different states and regions.
More confirmation that the slowdown in housing has spilled over to manufacturing.
How much ammo is left in that fed funds gun?