Is it me, or do recent economic reports have something in common (italics mine)?
"U.S. Jobless Claims Rise Unexpectedly" (Associated Press)
The number of newly laid-off workers filing applications for unemployment benefits in the U.S. unexpectedly surged last week after having fallen sharply in the previous week. The gain dampened hopes about how quickly the labor market may improve this year.
"U.S. Economy: Equipment Demand Slows to Start 2010" (Bloomberg)
Orders for durable goods excluding transportation unexpectedly fell 0.6 percent, the most since August, while a measure of bookings for business equipment showed its biggest decrease in nine months, the Commerce Department in Washington said.
"New Home Sales Hit Record Low, Prices Tumble" (Reuters)
Sales of new homes unexpectedly fell to a record low in January while demand for loans to buy homes hit a 13-year low last week, fanning fears of renewed weakness in the housing market.
"Consumer Confidence in U.S. Falls More Than Forecast" (Bloomberg)
Confidence among U.S. consumers fell more than anticipated in February to the lowest level since April 2009 as the outlook for jobs diminished, a sign spending may be slow to gain traction as the economy recovers.
"Economic Indicators Rise Less Than Expected, Mixed Open" (Marketplace)
The Conference Board reported that its index of leading economic indicators rose in January, but the gain was smaller than expected.
"Consumer Sentiment Index in U.S. Declined in February" (Bloomberg)
Confidence among U.S. consumers unexpectedly fell in February from a two-year high, signaling Americans may not be convinced the job market is turning around.
The Reuters/University of Michigan preliminary consumer sentiment index dropped to 73.7 from January’s 74.4. The measure averaged 88.9 during the economic expansion that ended in December 2007.
"Businesses Slashed Wholesale Inventories 0.8 Percent in December, Weaker Than Expected Showing" (Associated Press)
Businesses slashed wholesale inventories sharply in December, a much weaker showing than had been expected.
The Commerce Department says that wholesale inventories were reduced 0.8 percent in December. Economists surveyed by Thomson Reuters had expected inventories to rise by 1 percent during the month.
"Instant View: ISM Services Index Below Forecast in January" (Reuters)
The U.S. services sector grew less than expected in January, according to an industry report released on Wednesday.
Just wondering: after weeks of headlines like these, shouldn't this sort of news be expected by now?
I *anticipated* these comments from you Michael!
Posted by: Edward Charles Ponzi Jr | February 25, 2010 at 09:15 PM
"U.S. Stock Market stabilizes," on the good news that the Fed will have to print more money.
Posted by: Don | February 25, 2010 at 09:31 PM
Well, I wasn't surprised. But I wasn't surprised that the rest of the world was unpleasantly surprised either, actually. I've given up expecting realistic expectations.
Posted by: Martin, the Netherlands | February 26, 2010 at 02:57 AM
Results 1 - 10 of about 2520 for UNEXPECTEDLY.
http://search.bloomberg.com/search?site=wnews&client=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1&lr=-lang_ja&proxystylesheet=wnews&q=UNEXPECTEDLY
Posted by: JamesD | February 26, 2010 at 05:58 AM
They were unexpected because economists were unaware that it would snow this winter.
Posted by: Thomas | February 26, 2010 at 09:16 AM
I see NO jobs now in my industry
Posted by: Coolidge is the man | February 26, 2010 at 09:20 AM
If these Experts stay surprised for much longer they should be unexpectedly unemployed.
Posted by: John D | February 26, 2010 at 03:54 PM
House sales down? All the fault of those pesky mortgage lenders.
Something about having to have a job,first.
Posted by: BoB Crane | February 26, 2010 at 07:27 PM