Economy slipping back into recession, latest data show.

By Daniel at 16 November, 2009, 10:19 am

Retail numbers for September were adjusted from down 1.5% to down 2.3% from August. So October gets to go “up” 1.4% from a reduced September, and DOWN 1.7% from October of ‘08′

But I don’t care about ‘08 - what are they compared to our last HEALTHY year, October 0f ‘07, when people were just starting to WAKE UP? The number, DOWN 7.8%!!

WHERE is recovery in this continued degradation? Just better than a previous horrible month, and well off of where we need it to be just to get back to where we were YEARS ago! By the way, 2006 WAS HIGHER than this year.

- irishscot2

U.S. Nov. Empire State index 23.5 vs 34.6 Oct (M.W)

“WASHINGTON (MarketWatch) — After hitting a five year high in the previous month, manufacturing activity in the New York expanded at a slower pace in November, the New York Federal Reserve Bank said Monday. The bank’s Empire State Manufacturing index fell to 23.5 in November from 34.6 in October. The indexes for new orders and shipments posted similar declines. The employment index also fell and remained barely positive. The index is of interest to investors and economists primarily because it’s seen as an early indicator of what the Institute for Supply Management’s October national factory survey due out in two weeks may show. In October, the ISM manufacturing index advanced 2.7 points to 55.7, the highest reading since April 2006. “