The Establishment Survey (of more established mid to large size businesses in the US) showed a gain of just 18,000 jobs in the US last month. On its own, this was a very weak print - well within the accepted margin of error of +/- 50,000 a month, meaning that statistically it was flat.

But its the numbers under the hood that are most worrisome. ( Read more... )

In addition to an outright double dip recession in housing, US manufacturing looks as if it may very well now be contracting again. Regional manufacturing surveys from the New York and Philly regions confirm other reports of a broad reversal of fortune underway in manufacturing here in the US, specifically, as well as all around the world.

( Read more... )

Wall Street Journal/Market Watch
Shiller tilts to downside
The noted economist says the global economy is at a "tipping point," and the U.S. faces a "substantial" prospect of a double-dip recession..

CNBC
US Home Prices Could Still Fall a Lot More

Recent housing and employment data suggests the economy is at a tipping point, while home prices could have much further to fall, veteran economist Robert Shiller said Thursday...

He added that (an additional) 10 to 25 percent  slump in real home prices "wouldn't surprise me at all," though he ( Read more... )

WSJ Market Watch
U.S. stocks fall for sixth day on economic nerves


NEW YORK (MarketWatch) - U.S. stocks ended lower for a sixth session Wednesday, with the S&P 500 Index marking its longest losing stretch since early 2009, as investors failed to shake off concerns about the U.S. economy.

“The marketplace ( Read more... )

Paul Krugman
What A Drag

From Goldman Sachs, an estimate of the federal budget impact on growth. The gray line shows the direct impact, the blue line includes the induced “multiplier” effects. Notice that this shows the rate of change, not the level effects. I explained the difference a while back.

What you can see is that the unwinding of the ( Read more... )

Earlier today while catching a bit of Fast Money on CNBC, an observation was made that for "the rest of us" really comes as no big newsflash, but apparently is a shocker to many of those living in Wall Street (Said with regard to US retail sales):

"I think it's high-end or nowhere right now"

CNBC

Fears Grow Over Double-Dip RecessionOne fund ( Read more... )

CNBC/Reuters
Global Recovery Sputters After Several Strong Quarters

It was fun while it lasted.
After several strong quarters, the global economic recovery appears to be sputtering. In particular, the industrial sector, a key driver of the bounce-back from a historic worldwide recession, looks to be fraying.


( Read more... )

More and more data points coming out suggesting that indeed a new global slowdown is imminent, if not already underway, with major countries such as Japan and the UK now in a severe slowdown, if not outright classic, technical recession.

Today we learned that the Conference Board's Leading Economic Index for the US dipped for the first time in many ( Read more... )

Revised data now shows that the world's third-largest economy was already contracting sharply during the final quarter of last year, and was only very soft, at best, when the nightmare earthquake/tsunami/nuclear disaster hit in March.

iMarketNews.com
Japan Econ Set For 3rd Straight Qtrly Fall on Quake Impact

TOKYO (MNI) - The Japanese economy is now ( Read more... )