Sunday, February 15, 2009
- More from the Good News Economist
Friday Sunshine: Foreclosures Plummet, Retail Sales Up
posted in General
at Sun, 15 Feb 2009 13:13:51 -0800
Posted: 12 Feb 2009 08:55 PM PST
On Friday two weeks ago, you read that the propensity to report good news was on the rise. This week, and this Friday in particular, are no exception.
1. A closer look at jobs data revealed that companies are indeed hiring again and that the dismal unemployment reports are largely a result of November/December actions.
2. Three major retailers demonstrated by their January sales announcements that its not all dismal in the retail segment.
3. The ISM's reports for January show deceleration of business activity declines, with some industry segments now reporting grow.
4. Some emerging international markets are rebounding sharply to start the new year.
But perhaps the most dramatic piece of good news this week were two reports out yesterday:
1. The government reported that indeed the US retail segment as a whole rebounded by 1%! (a "surprise" to those gloomsters who had forecast a decline.)
2. In the housing market in January foreclosures have slowed dramatically. The total foreclosure numbers were down 25% in January with "pre-foreclosure" filings down 12%. Further, California foreclosures are at their lowest level in over a year.