Worst days of US crisis may lie ahead, says IMF

IveSeenTheLight

Jonbvn wrote: »

And in other news from the Torygraph.

US recession will be less severe than feared, IMF says.

Same IMF article - different spin!

Also today from http://news.bbc.co.uk/2/hi/business/8103265.stm


May rebound in US housing starts


Housing starts were still well down from last year's level

The number of new houses started in the US rebounded in May from April's record low, the Commerce Department has said. Housing starts jumped 17.2% to a seasonally adjusted annual rate of 532,000 units in May, up from April's figure of 454,000.
However, the rate was still down 45.2% from May 2008.
Also on Tuesday, the Federal Reserve said industrial production fell 1.1% in May from April, which was worse than had been expected.
'Soft report'
Speaking on the housing figures, Zach Pandl at Nomura Securities in New York said: "This starts report is actually very encouraging. Single-family housing starts, where the core of the inventory problem is in the housing market, are really coming back at a good pace.
"I would emphasise though that housing activity does remain at extraordinarily low levels, we really need to come back strongly from here."
Among the biggest falling sectors in the industrial production figures was cars and car parts, which declined 7.9%, having fallen 1.2% in April.
Machinery production dropped 3.4% in May following April's 2.5% decline.
"It's a soft report, consistent with an economy that is still in recession and contracting," said Michael Moran at Daiwa Securities in New York.
"I suspect that the Chrysler bankruptcy was an important factor affecting the motor vehicle sector. The manufacturing sector is still weak."

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IveSeenTheLight wrote: »

Also today from http://news.bbc.co.uk/2/hi/business/8103265.stm


May rebound in US housing starts


Housing starts were still well down from last year's level

The number of new houses started in the US rebounded in May from April's record low, the Commerce Department has said. Housing starts jumped 17.2% to a seasonally adjusted annual rate of 532,000 units in May, up from April's figure of 454,000.

And another view..............

US homebuilder confidence slipped in June as rising mortgage rates cast concerns about the state of the fragile housing market.
The National Association of Homebuilders’ index of homebuilder sentiment fell back to from 16 to 15 this month, dashing economists’ predictions of an uptick. The figure remains 79 per cent below the peak of hopefulness reached in June 2005 when the index rose to 72 but well above January’s record low of 8. A reading of more than 50 indicates “good” conditions.

http://www.ft.com/cms/s/c7fe9182-59d2-11de-b687-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fc7fe9182-59d2-11de-b687-00144feabdc0.html%3Fnclick_check%3D1&_i_referer=http%3A%2F%2Fwww.housepricecrash.co.uk%2F&nclick_check=1

IveSeenTheLight

ad9898 wrote: »

And another view..............




http://www.ft.com/cms/s/c7fe9182-59d2-11de-b687-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Fc7fe9182-59d2-11de-b687-00144feabdc0.html%3Fnclick_check%3D1&_i_referer=http%3A%2F%2Fwww.housepricecrash.co.uk%2F&nclick_check=1

The same reporter also said this on Friday
http://www.journalisted.com/article?id=1547718

US consumer confidence rose in June to its highest level in nine months as a recent stock market rally and signs of economic stability have begun to peel away some of gloom cast by the recession.

whathavewedone

The "Torygraph" hasn't really been tory for a couple of years. Quite a few hardcore tories cancelled their subscriptions some time ago.

The editor's brother works for labour or so I read today on Conservative Home. Whether this has anything to do with it or not I don't know but when I read it a few times with all the MPs expenses stuff it didn't seem all that tory to me I must say.

I don't think the Guardian, Independent and Daily Mirror have a right wing equivalent these days. Even the Daily Mail has a go at the tories these days!

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IveSeenTheLight wrote: »

The same reporter also said this on Friday
http://www.journalisted.com/article?id=1547718

So, what we can both agree on is the guy doesn't know is @rse from his elbow.:D