John Mage wrote:
>Released also today were new home sale stats showing a larger than
>expected drop (posted below). Now if the 2001 recession was offset
>by surprisingly strong consumer demand for homes and cars enabled by
>low mortgage rates and 0% carloans, would it not make sense that
>2001 home and car sales were in effect taken from 2002 & 2003? And
>that what we're seeing in these numbers today is the start of the
>double dip? And that any possible *upward* movement in interest
>rates would be asking for very serious trouble?
More manna for bears...
At 9:52 AM -0400 4/24/02, The Dismal Scientist wrote:
>ABC News/Money Magazine Consumer Comfort Index for United States (-5)
>
>The ABC News/Money magazine survey of consumer comfort unexpectedly
>declined by an unusually large 6 points in the latest week. The
>index now stands at -5, its lowest level since early March.
>
>* The six-point drop in the index was only the fifth drop of this
>size in the history of the index, the latest was in February 2001.
>* All components of the index dropped to levels last seen in early
>March or late February. The largest drop came in the assessment of
>the buying climate which fell eight points to -18.
>* Assessments of the state of the national economy and personal
>finances each fell six points to -18 and 20 respectively.
>* Expectations are weakest in the Northeast, where high energy
>prices and the stock market's difficulties take a particularly large
>toll.