Everyone Expects a Slower Second Half 2010
No surprise here. A slower second half in 2010 is expected.
Recent reports indicate the US economy is slowing and retail sales have fell below analysts' expectations. Singapore too expects our economy to notch down a gear and forecasts slower growth in the months ahead.
A check with the US St Louis Fed's indicators indicates likewise.
Personal consumption has slowed. Manufacturing and business activity have trimmed its growth rate. And unemployment continues to be a major obstacle in this recovery. Recent claims have been increasing, though private payrolls have actually increased (but lesser than forecast).
Slow growth does not mean no growth. Who knows? Irrational exuberance may surprise us all over again.
