Economic Week in Review: Economy gets back to work Week ending Friday August 29

Posted on August 29, 2008. Filed under: -- Economic Week In Review | Tags: |


By Molly Greaves

 

Economic Week in Review: Economy gets back to work
——————————————————————-

Economic indicators worked overtime this week to deliver good news
before the Labor Day holiday. Second-quarter growth in the gross
domestic product (GDP) was revised upward more than anticipated,
orders for big-ticket items increased, and consumer confidence
grew. Even the depressed housing market perked up, signaling
that its prolonged weakness may be stabilizing, although it
remains too soon to declare that the corner has been turned.
In the financial markets, the S&P 500 Index slipped –0.7% to
1283 (for a year-to-date total return of –11.4%). The yield
of the 10-year U.S. Treasury note dropped 4 basis points to
3.83% (for a year-to-date decrease of 21 basis points).

To read Vanguard(R) Economic Week in Review in its entirety, go to:
http://www.vanguard.com/visit/econweek082908

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