Economic Week in Review: Economy still under the weather

Posted on July 26, 2008. Filed under: -- Economic Week In Review | Tags: |


By Molly Malone

 

Whoa baby, it’s already Friday. Holy smokes. I had a long day at the Trump School of Real Estate, but it sure was full of learning, which I always love. Class tomorrow–and yes, class on Saturday, Sunday too actually– should be just as good.

Here’s the Economic Recap for the Week in the words of the folks at Vanguard:

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Economic Week in Review: Economy still under the weather
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Economic reports this week revealed an economy still struggling and
far from recovery. Consumer spending remains constrained as soaring
food and gasoline prices continue to eat up household income. Tighter
credit requirements and unease in the financial markets also are
dampening sales of new and existing homes. One bright spot this week
came from durable-goods manufacturers, which reported an unexpected
increase in demand–a possible sign that companies plan to invest in
capital equipment despite the troubles in the financial markets this
year. For the week, the S&P 500 Index declined –0.2% to 1,258 (for a
year-to-date total return of –13.4%). The yield of the 10-year U.S.
Treasury note rose 2 basis points to 4.13% (for a year-to-date
decrease of 9 basis points).

To read Vanguard(R) Economic Week in Review in its entirety, go to:
http://www.vanguard.com/visit/econweek072508

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