Some Bright Spots, No Fireworks—Economic Review For Week ending Friday, July 4th 2008

Posted on July 6, 2008. Filed under: -- Economic Week In Review | Tags: , , , |

posted by Molly Greaves—because I care!

Economic Week in Review: Some bright spots, no fireworks
This week’s economic news painted a picture of an economy struggling
with surging oil prices and a general slowdown. While jobs continued
to be lost, the unemployment rate held steady. Private construction
spending was down, but public sector spending increased. And growth
stalled in the service sector while factory activity increased
slightly. For this holiday-shortened trading week, the S&P 500 Index
fell 1.2% to 1263 (for a year-to-date total return of –13.2%). The
yield of the 10-year U.S. Treasury note fell 1 basis point to 3.98%
(for a year-to-date decrease of 6 basis points).

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