Economy is Cooling
May 31st, 2006 by jhampton
As a long time saver, you are probably already prepared for a worsening economy, but if not, now’s certainly the time to make sure you are cutting your debt and your overall costs because it looks like the economy is certainly slowing down again:
U.S. factory expansion eased in May to the slowest pace since August while April pending home sales slipped for the third straight month, reports showed on Thursday, indicating the red hot pace of economic growth at the start of the year may be cooling.
The housing and manufacturing reports combined with separate data released earlier showing a lower-than-expected increase in labor costs amid solid productivity gains suggest rising price pressures remain well contained.
The housing and manufacturing reports combined with separate data released earlier showing a lower-than-expected increase in labor costs amid solid productivity gains suggest rising price pressures remain well contained.
Unfortunately, we’re about to see at least one more interest rate increase, possibly as many as three more interest rate increases in the next few months. It seems that the economy is slowing but interest rates are rising and that is rarely a good thing.
Posted on Wednesday, May 31st, 2006 at 8:38 pm In Debt Elimination