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Friday, June 26, 2009

US economy contracts by -5.5%!

According to the Bureau of Economic Analysis at the Department of Commerce.

Nothing to say here, aside from the green shoots are taking a while to sprout to full fledged trees!

A better synopsis was done by the FT.

I had up the output figures from last month which there was a larger decline from the month before. So, I have no idea as to why people can be suggesting that the economy is sliding at a slower pace? And, how can that reflect as good news for the American economy over all?

To top it all off, job numbers are still dwindling--even though I have taken into account the amount of jobs created as well.

I think the issue is in the "new economy"...away from industry and mechanical engineering jobs. Green tech and a bit of the old economy, construction and transport and, now, efficiency in transport, is what are possible drivers.

Will have a look at those numbers in a few. It's hard just to isolate green tech, but construction should not be so hard to find as it is already in the Industrial output figures and they are leading the push back to normalcy in the US economy!

Housing and Commercial property developments would help.
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